India’s federal investigator opens criminal case against Anil Ambani, his company

State Bank of India alleged that Anil Ambani, the younger brother of billionaire Mukesh Ambani, and Reliance Communications defrauded the bank, causing 30 billion Indian rupees ($344 million) of losses.

India’s federal investigating agency said on Saturday it had opened a criminal case against industrialist Anil Ambani and his company Reliance Communications Ltd following a complaint by India’s largest bank about alleged fraud.