Bank fraud case: CBI raids sites linked to Anil Ambani; FIR registered

The Central Bureau of Investigation (CBI) on Saturday conducted searches at premises linked to Reliance Communications (RCOM) and its former promoter Anil Ambani in connection with an alleged large-scale bank fraud, officials told news agency PTI.

An FIR was also registered.The raids comes after the Enforcement Directorate (ED) on August 5, questioned Ambani for nearly 10 hours, in a money laundering probe related to multiple bank loan frauds involving over Rs 17,000 crore. As per sources quoted by PTI, Ambani had sought 10 days to submit documents, but investigators remain unconvinced. The ED suspects irregularities in loans granted by Yes Bank and possible diversion of funds through shell companies.This is a developing story. Details to follow...