ED questions Anil Ambani’s son Jai Anmol for second day in money laundering case

The Enforcement Directorate questioned Jai Anmol Ambani for the second consecutive day in a money laundering probe linked to an alleged Yes Bank loan fraud. His statements were recorded under the PMLA as part of the ongoing investigation

New Delhi: The Enforcement Directorate on Saturday questioned Jai Anmol Ambani, son of industrialist Anil Ambani, for the second consecutive day in a money laundering case linked to an alleged bank loan fraud, officials said.

The statements of 34-year-old Anmol Ambai were recorded under the Prevention of Money Laundering Act (PMLA) for the first time on Friday, and the session is continuing on Saturday, they said.

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The Reliance Anil Dhirubhai Ambani Group did not respond to the development. The ED probe is related to Yes Bank, which, according to the officials, had an exposure of about Rs 6,000 crore in the Reliance Anil Dhirubhai Ambani Group as of March 31, 2017, which doubled to Rs 13,000 crore within a year.

The companies involved included Reliance Home Finance Limited (RHFL) and Reliance Commercial Finance Limited (RCFL). A “large” portion of these investments turned into non-performing investments (NPIs) and the bank, subsequently, suffered a loss of Rs 3,300 crore from these dealings, the agency alleged.

Anil Ambani, too, has been questioned by the ED in an alleged bank loan fraud case against the Reliance Group companies.