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HindustanTimes Wed,16 Apr 2014

More arrests likely; Puri’s kin still at large

Faizan Haider, Hindustan Times  GURGAON, January 04, 2011
First Published: 01:06 IST(4/1/2011) | Last Updated: 01:08 IST(4/1/2011)

Police sources on Monday indicated that more corporate executives would be arrested soon. According to sources, there are as many as 10 chief financial officers (CFOs) of different companies who were dealing with Puri and now all of them will be questioned. Puri’s father also faces arrest anytime.

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“All those who are associated with seized accounts will be questioned. The job of CFOs is to check the investment of the company they are working with. If the money is going in wrong direction, then it is their responsibility to prevent it. They were either aware or were neglecting the fact that Puri was misusing the money," said sources.

"Hero group's arm is one firm that had invested the major chunk. The CFOs were asked to appear before the police for questioning. Gupta was called first as Puri took his name during the interrogation. We still have to see whether other CFOs and representatives from brokerage firms were aware of the fraud," said a police officer. Interestingly, the police have so far failed to trace the relatives of Puri in whose names the accounts were opened.

"The role of Raghuraj Puri is important as initially the money went to him. Also, eight accounts in Citibank are in the name of Normans Martin. Teams have been sent to its Mumbai and other offices," the police official said. According to police, the relatives have gone underground.

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