Citibank fraud: Banker Shivraj Puri arrested, sent to 7 days police custody
Talking to Times of India after his arrest, Puri said: "I have already given full details to the police. I have full faith in the judiciary. Truth will come out."
By Agencies |
GURGAON: Shivraj Puri, the alleged mastermind behind Rs 300 crore Citibank fraud in the branch here, was today remanded in 7 days' police custody.
Duty Magistrate Raj Kumar Yadav has sent Citibank fraud accused to 7 days police custody, Gurgaon Police Commissioner S S Deswal said.
Talking to Times of India after his arrest, Puri said: "I have already given full details to the police. I have full faith in the judiciary. Truth will come out."
After his arrest this morning, Puri, the Relationship Manager of Citibank, Gurgaon branch, was produced before a special court as other courts are on winter vacation.
During the interrogation the police would trace the money trail which were fraudulently collected from High Networth Individuals (HNIs) by promising unusually high returns of 18 per cent, Deswal said.
Deswal said of the Rs 300 crore estimated to be involved in the fraud Rs 200 crore belong to corporates and Rs 100 crore to individuals.
He said 40 teams have been constituted to crack the case that involved alleged siphoning off funds taken as investments from high networth individuals into a personal account of the main suspect Puri and three of his accomplices.
Deswal said Puri's father Raghuraj Puri is said to be owning a brokerage firm Norway Martin through which diverted funds were invested in the stock market.
Asked whether the Gurgaon police will seek the help of other agencies in the probe, he said "we are qualified and competent to investigate. In case it is needed, we will consider it."
He said the Citibank has already informed RBI and SEBI about the fraud.
The Commissioner said from the interrogation of Puri police hoped to get more clues.
Puri, who worked at the bank's Gurgaon branch as a relationship manager, is accused of siphoning money from 20 accounts of high net worth individuals. Puri, allegedly cheated investors by promising to double their money. Since the task of opening new accounts had been assigned to him, he managed to dupe many people without the bank's knowledge.
A case of cheating and forgery was registered against Puri and the others DLF Phase-II Police Station on Monday night after Citibank lodged a formal complaint.
Duty Magistrate Raj Kumar Yadav has sent Citibank fraud accused to 7 days police custody, Gurgaon Police Commissioner S S Deswal said.
Talking to Times of India after his arrest, Puri said: "I have already given full details to the police. I have full faith in the judiciary. Truth will come out."
After his arrest this morning, Puri, the Relationship Manager of Citibank, Gurgaon branch, was produced before a special court as other courts are on winter vacation.
During the interrogation the police would trace the money trail which were fraudulently collected from High Networth Individuals (HNIs) by promising unusually high returns of 18 per cent, Deswal said.
Deswal said of the Rs 300 crore estimated to be involved in the fraud Rs 200 crore belong to corporates and Rs 100 crore to individuals.
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He said 40 teams have been constituted to crack the case that involved alleged siphoning off funds taken as investments from high networth individuals into a personal account of the main suspect Puri and three of his accomplices.
Deswal said Puri's father Raghuraj Puri is said to be owning a brokerage firm Norway Martin through which diverted funds were invested in the stock market.
Asked whether the Gurgaon police will seek the help of other agencies in the probe, he said "we are qualified and competent to investigate. In case it is needed, we will consider it."
He said the Citibank has already informed RBI and SEBI about the fraud.
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The Commissioner said from the interrogation of Puri police hoped to get more clues.
Puri, who worked at the bank's Gurgaon branch as a relationship manager, is accused of siphoning money from 20 accounts of high net worth individuals. Puri, allegedly cheated investors by promising to double their money. Since the task of opening new accounts had been assigned to him, he managed to dupe many people without the bank's knowledge.
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A case of cheating and forgery was registered against Puri and the others DLF Phase-II Police Station on Monday night after Citibank lodged a formal complaint.
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