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    HomeHome'Well-planned scheme to siphon off public money': ED raids Anil Ambani; bribery...

    ‘Well-planned scheme to siphon off public money’: ED raids Anil Ambani; bribery angle under scanner | India News – Times of India

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    NEW DELHI: The Enforcement Directorate (ED) on Thursday conducted searches at the premises of industrialist Anil Ambani in connection with an ongoing money laundering investigation.Sources told TOI that the case involves alleged laundering of approximately Rs 3,000 crore received as loans from Yes Bank between 2017 and 2019. The ED’s probe is based on a CBI FIR in the Yes Bank case and centres around the financial dealings of RAAGA companies — firms under the Reliance Anil Ambani Group.According to officials, multiple agencies, including the National Housing Bank, SEBI, National Financial Reporting Authority (NFRA), and Bank of Baroda, have shared relevant information with the ED.Preliminary findings indicate a deliberate scheme to divert public funds, involving fraud against banks, shareholders, and investors. The ED is also probing allegations of bribes paid to Yes Bank officials, noting that funds were transferred to entities linked to Yes Bank promoters shortly before loans were sanctioned.(This is a developing Story)





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