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HindustanTimes Wed,16 Apr 2014

Look-out notice issued against bank executive

Faizan Haider, Hindustan Times  Gurgaon, December 29, 2010
First Published: 01:53 IST(29/12/2010) | Last Updated: 01:56 IST(29/12/2010)

Fearing that Shivraj Puri, a relationship manager in Gurgaon branch of Citibank who is allegedly involved in over R100-crore fraud, could leave the country, Gurgaon police has issued a Look Out Circular (LOC) against him.

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Soon after registering an FIR against him, Gurgaon Police, alerted the ministry of home affairs and the ministry of civil aviation.

"The details, along with the photograph of Puri, have been sent to all airports across the country with help of the Bureau of Civil Aviation Security. In case he tries to flee the country, he will be apprehended at the airport," said a senior police officer who is involved in the investigation.

According to police, Puri, who was working with Citibank for over 10 years, was a permanent employee and used to deal with the account holders. He had opened bank accounts in the name of his three relatives and made other customers deposit money in those accounts. He used a forged SEBI (Security and Exchange Board of India) circular that promised good returns on deposits to lure customers and when they did so, he siphoned off the funds.

Meanwhile, the police are also looking for his relatives on whose name the accounts were opened. "The details are lying with the bank and we have initiated the process to look for them. Also, the statement of those who have invested the money is important and a team has been sent to search for them," the officer added.

Meanwhile, the Citibank officials are suspecting that an insider may have helped Puri in executing the crime.

"It is good that the crime was detected at the early stage. But Puri had transferred the money in his account and we have initiated the process to seize that account," said a Citibank official, who wished to remain anonymous.

"This issue does not impact other accounts, transactions or customers of the bank," a Citibank spokesperson assured.

However, the police refused to divulge details of Puri's residence, who may be in the city. "He has a house in both Delhi and Gurgaon. Teams have been sent to search him but we cannot give the exact addresses," the officer further said. Further investigations in
the case are on.

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