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Cops to verify claims with recordings

delhi Updated: Jan 08, 2011 00:26 IST
Sanjeev K Ahuja
Sanjeev K Ahuja
Hindustan Times
citibank scam

Gurgaon police have acquired audio recordings of Shivraj Puri who used to place orders for trading at the brokerage companies using the scam money.

The police have also sought order-log/trade-log to crosscheck between the audio recordings and actual stock transactions.

According to sources, Puri has disclosed to investigating officials that he used to conduct stock trading with the brokerage companies through voice and speculation over phone. About 95% of the trading orders he made was on voice-based contract and rest 5% through cash. Other contract options were email and written signed documents, which he used rarely. As per SEBI guidelines, the brokerages should keep voice records for 10 years.

These recordings are used again in case of disputes between the investors and brokerage companies.

The police had already recorded the voice samples of Puri and are trying to match with the recordings obtained from the brokerage companies.

Though the police have been able to account for the bank transactions of more than Rs 300 crore, initially Puri had claimed that he had conducted transactions to the tune of Rs 800 crore.

Investigators are yet to corroborate the claims of Puri who had claimed that he had lost majority of money invested in the market.