Seven days police remand for Citibank fraudster

The absconding alleged mastermind, Shivraj Puri, who is behind the Citibank fraud of Rs 300 crore in the branch of Gurgaon after getting arrested today, has been sent into police custody for 7 days on Thursday.

As per report of the sources, Gurgaon Police Commissioner confirmed the news to media that Duty Magistrate Raj Kumar Yadav has sent Citibank fraud accused to 7 days police custody. The absconder Puri surrendered himself to Police almost after two days of the revelation of one of India’s biggest banking frauds as per report of the officials of the bank.

Immediately after his arrest, the alleged culprit was produced before a special court as other courts were on winter vacation. Police Commissioner while addressing media told that the main emphasis during the interrogation will be made on tracing the money trail which was collected with the motive of fraud by promising unusually high returns of 18 per cent.

According to police, nearly 200 crore was invested by Hero group in Puri’s account and the remaining 100 crore were invested by the individual account holders. It was also told that Puri had invested the money in five major brokerage companies, including Religare, Okaya and Bonanza.

The Gurgaon police on Wednesday had sealed 81 bank accounts of different banks into which Puri had transferred money and constituted five police teams to solve the case.

The bank said the issue did not impact other accounts or transactions or customers of the bank.

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