India’s financial crime agency has provisionally frozen 30.84 billion rupees ($350.87 million) in assets linked to Reliance Anil Ambani Group as part of a money-laundering investigation, a government source said on Monday. The case involves loans taken by the group, owned by the younger brother of billionaire Mukesh Ambani, from India’s YES Bank between 2017 and 2019 in excess of $568.86 million. Investments made with the funds delivered no returns. The Enforcement Directorate has now blocked any transactions from taking place on residential units and land parcels across Mumbai, Delhi and Chennai, including industrialist Anil Ambani’s family residence in Mumbai,…
India federal agency freezes Anil Ambani Group’s $351 million properties – Reuters
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