When most of the investors have suffered losses after Citibank fraud, there is a company which used the scam in its favour. According to the police, the company, which manufactures battery, is under scanner for its fraudulent claim of being a victim.
The firm got compensation twice, one from the Citibank and another from the accused, Shivraj Puri. The company’s owner has been arrested.
“The company claimed the false compensation of R20 crore from the Citibank but has already received an amount from the accused and did not even inform either police or the bank,” the official said on the condition of anonymity.
According to the police, Citibank returned the money to all of its clients who were the victims of Puri’s fraud.
“The bank was not aware of the fact that Puri had already returned the money to this victim but was discovered only after the investigations. We are going to take the appropriate action against the company and the official responsible for this fraud,” said the official.
Meanwhile, the regular bail applications of Raghuraj Puri and Rakesh Chand will be heard on April 15 though it was earlier scheduled on Wednesday. Puri and Chand are the co-accused in R405 crore Citibank fraud. Earlier the city court rejected the bail pleas of Raghuraj and his associate Chand and sent them to 14 days’ judicial custody on Friday.
Case so far
A Securities and Exchange Board of India (SEBI) team from Mumbai had come to Gurgaon to assist the police. In addition to SEBI, a five-member team from Reserve Bank of India (RBI) had also come.
The Economic Offences Wing (EOW) and Cyber Crime Wing had been helping Gurgaon police, along with State Bank of India officials, in the case involving huge investment by corporate entities and high networth individuals (HNI).
Police had also claimed that the money deposited was transferred to brokerage companies Normans Martin, Religare, Okaya Power Limited, Bonanza, BG and India Infoline.
Earlier, the police found out that even the parents and not only Shivraj Puri, may have scripted the fraud. They were also interrogated.