40 Puri 'victims' file complaints | delhi | Hindustan Times
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40 Puri 'victims' file complaints

The list of investors duped by Citibank relationship manager Shivraj Puri in the Rs 400-crore fraud is growing longer. Sanjeev K Ahuja reports.

delhi Updated: Jan 11, 2011 00:50 IST
Sanjeev K Ahuja

The list of investors duped by Citibank relationship manager Shivraj Puri in the Rs 400-crore fraud is growing longer.

Till now, a total of 40 complainants have come forward since December 27 when the scam hit headlines.

Eighteen corporate entities and 22 high net worth individuals (HNIs) are said to have been made victims by Puri.

Sources said the Gurgaon police, who are probing the hi-profile customer fraud case, have received formal complaints from majority of the victims.

On January 6, the police had claimed that a total of 29 entities had been targeted in the scam.

The names of 10 corporate entities and four HNIs, who had invested a total of about Rs 316 crore in the fake hi-return scheme offered to them by the Citibank employee, have also been disclosed.

Puri used a forged letter from market regulator Securities and Exchange Board of India (SEBI) showing accounts of his family members as custodian accounts of Citibank.

Companies under the Hero Group have a lot at stake as they had invested a major chunk.

Two First Information Reports (FIRs) have been registered in the case.

The first is against Puri on the complaint of Citibank officials while the second one is against 11 Citibank officials, including Puri, on the complaint of investor Sanjeev Aggarwal, a resident of DLF City.

Delhi-based company OKS Spantech, that had invested R2 crore in Puri's scheme, has already sent a legal notice to Citibank for the recovery of its money.

According to police officials, various teams probing the scam have been approaching investors who lost money.

"Since their goodwill is more precious than the money lost in the fraud, investors were not coming forth. Very few of them have come to us with complaints. We are also approaching them to collect information about their investments and the loss they suffered to strengthen our case. We have sought written complaints from them," said a senior police official.

When asked whether the Gurgaon police would file fresh FIRs in this case on the basis of the complaints being received from investors, the official said it was yet to be decided.