Citibank fraud: 'God-fearing' banker tapped others' greed to rip off 250 cr
To support his promises, he flashed a forged document, purportedly by Sebi, that empowered the DLF II branch where he worked to float special schemes.
By Sanjay Yadav & Dipak Kumar Dash, TNN |
GURGAON: Talk about deceptive appearances. Shiv Raj Puri, 32, the man who cleaned out nearly Rs 250 crore from the Gurgaon branch of Citibank, is not someone you’d associate with fraud or greed. He’s soft-spoken and the car he drove belonged to his father, Raghu Raj Puri.
According to his neighbours at upscale Hamilton Court, Puri was a modest man who pretty much kept to himself. Though Puri was married, he often stayed with his parents. Says M M Bhalla, former president of Hamilton Court RWA, “Shiv Raj’s parents have been staying here for the past several years. We know them as friendly residents. I’ve met Shiv Raj only once. He was modest, and came across as a god-fearing guy.”
God-fearing perhaps, but not quite law-abiding. And smart. Says an investor, who was charmed out of his pocket to the tune of Rs 20 crore, “This tall, suave banker met me several times, and I was impressed by his soft talk.’’
What Puri was talking about was miracles, the essence of which was greed. He promised 18% return on the money entrusted to him.
To support his promises, he flashed a forged document, purportedly by Sebi, that empowered the DLF II branch where he worked to float special schemes. His wealthy clients, who would normally have been suspicious, saw in Puri a short cut to even more riches. According to the cops, over 20 high net worth investors were lured into his trap.
According to his neighbours at upscale Hamilton Court, Puri was a modest man who pretty much kept to himself. Though Puri was married, he often stayed with his parents. Says M M Bhalla, former president of Hamilton Court RWA, “Shiv Raj’s parents have been staying here for the past several years. We know them as friendly residents. I’ve met Shiv Raj only once. He was modest, and came across as a god-fearing guy.”
God-fearing perhaps, but not quite law-abiding. And smart. Says an investor, who was charmed out of his pocket to the tune of Rs 20 crore, “This tall, suave banker met me several times, and I was impressed by his soft talk.’’
What Puri was talking about was miracles, the essence of which was greed. He promised 18% return on the money entrusted to him.
To support his promises, he flashed a forged document, purportedly by Sebi, that empowered the DLF II branch where he worked to float special schemes. His wealthy clients, who would normally have been suspicious, saw in Puri a short cut to even more riches. According to the cops, over 20 high net worth investors were lured into his trap.
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