Citibank fraud accused gets two more days in remand
By IANSWednesday, January 12, 2011
GURGAON - Citibank manager Shivraj Puri, accused of masterminding a Rs.300 crore fraud, was handed a further police remand of two days Wednesday in what is being called the biggest banking scam in India.
“Puri was produced in court and he has been remanded to two-day police custody,” a police officer said.
Sources say police took Puri’s custody to trace an iPad that contains important information. Also, he might be taken to Kolkata since he has a home there.
Puri allegedly managed to con companies and high net worth individuals after forging a Securities and Exchange Board of India (SEBI) document that purportedly backed his claims about schemes offering high returns.
He had surrendered to police Jan 30 and was handed a week-long police remand by a special court in Gurgaon the same day.
Working as a relationship manager, he allegedly cheated investors by asking them to deposit money into accounts managed by him, promising to invest it in schemes that offer very high interest within a short span of time.
He was again remanded to six-day police custody Jan 6.
