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No need to question Citi CEO Pandit, top honchos: Gurgaon police

PTI  Gurgaon, January 05, 2011
First Published: 15:33 IST(5/1/2011) | Last Updated: 15:35 IST(5/1/2011)

The local police on Wednesday ruled out the possibility of questioning Citibank's global CEO Vikram Pandit and other top honchos in connection with the Rs. 300 crore fraud case at a bank branch.


"At this point of time the possibility of involvement of global CEO...India head looks remote" Gurgaon Police Commissioner SS Deswal told reporters.

Police, however, will question the local staff of the Gurgaon Citibank branch in connection with the FIR filed by a high networth individual and managing director of Helion Advisors Sanjeev Aggarwal who lost Rs. 32.43 crore in the fraud case.

"We are examining the details provided in the complaint as well as by the bank", Deswal added.

Aggarwal in his FIR had named Indian-born global CEO of Citibank Pandit, Chairman William R Rhodes and some other top officials of the bank in connection with the fraud masterminded by Relationship Manager Shivraj Puri.

In the FIR, Aggarwal, who is a resident of Gurgaon, alleged criminal breach of trust, falsification of accounts, cheating and criminal conspiracy by the officials of the Citibank.

"All persons named (in FIR) ... in collusion and conspiracy with each other and other known or unknown persons, (and) have misappropriated large sums of money to the tune of Rs. 32.43 crore" Aggarwal said in his complaint.

The fraud at the bank's Gurgaon branch, involving diversion of depositors money into the stock market, was uncovered last week.

The others who were been named in the FIR include Citibank's senior officials CFO John Gerspach and COO Doughlas Peterson (both based in New York).

Besides, Amit Zarpuri, Ashwini Chaddha, Amrita Farmahan, Rahul Soota, N Rajshekaran, Pramit Jhaveri and Shivraj Puri (main accused in the fraud case) also figure in the FIR.

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