Citibank accused get bail, yet to get out of jail | gurgaon | Hindustan Times
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Citibank accused get bail, yet to get out of jail

Even though they got bail in the multi-crore Citibank fraud case, the alleged mastermind Shivraj Puri and his father Raghu Raj Puri will have to wait for some more time to get out of jail.

gurgaon Updated: May 30, 2012 00:58 IST
HT Correspondent

Even though they got bail in the multi-crore Citibank fraud case, the alleged mastermind Shivraj Puri and his father Raghu Raj Puri will have to wait for some more time to get out of jail.

The father-son duo granted bail from the Punjab and Haryana high court on Monday. But before being released from prison, they will have to surrender their passports in the Gurgaon court and deposit the amount of bail bonds. The authorities at Bhondsi jail, where the duo have been lodged, are yet to receive their release orders.

“We haven’t received their release orders yet. We will begin their release proceedings the moment we get the order from the trial court,” jail superintendent Harinder Singh said.

Shivraj has been in jail since December 30, 2010 while his father was arrested in April last year.

The HC bail orders will first reach the trial court in Gurgaon, where both the accused will submit their bail sureties and passports. HT learnt from sources that Raghuraj’s bail order was received by the trail court on Tuesday while Shivraj’s bail order hasn’t been received yet. Raghuraj has not submitted the bond or passport so far.

Raghuraj has to submit a Rs. 5 lakh bail bond and Shivraj’s bail amount will be decided by the trail judge on the basis of HC order which reads that his “will be a heavy bond”.

Munish Behl, Puris’ lawyer in the high court, said, “My clients have already spent huge money on litigation. A surety of R5 lakh will be tough for them.”

Shivraj, a former relationship manager with Citibank, had allegedly siphoned around R400 crore of various customers to some fictitious accounts.

Raghu Raj was the managing director of a Kolkata-based firm, Normans Martin Brokers Pvt Ltd, through which Shivraj allegedly used to divert money into stock markets.

The high court had earlier granted anticipatory bail to Shivraj’s mother Deeksha. The only co-accused in this scam left behind the bars is Sanjay Gupta, former vice-president of Hero Corporate Services.