Anil Ambani’s $410 Million Mumbai Condo Seized in Probe

Indian investigators seized a $410 million luxury condominium building owned by Anil Ambani as part of a widening probe into alleged bank fraud by the tycoon.

The Enforcement Directorate, India’s anti-money laundering agency, said on Wednesday that it had provisionally taken Ambani’s 17-story property, known as “Abode,” in the upscale Pali Hill neighborhood. The agency alleged Ambani has defaulted on over 400 billion rupees ($4.4 billion) worth of loans from Indian and foreign banks.