Shivraj Puri, the alleged trickster who duped several high-networth clients of Citibank, told HT on Thursday the bank was aware of what he was doing.
Puri, the relationship manager who allegedly diverted Rs 300 crore of customers’ investments to accounts under his control, surrendered before a court here after evading the police for more than 48 hours. Booked for cheating, forgery and criminal conspiracy, he was sent to police custody for seven days.
Puri told HT before his arrest he’d actually made transactions worth Rs 800 crore through what he termed legitimate accounts and the bank authorities knew exactly what was happening.
But Citibank officials said the bank initiated the probe against him on customers’ complaints to SEBI, RBI and the police.
Police are also looking for a former Citibank employee, reportedly Puri’s landlord, who was involved in a similar fraud earlier.
Puri allegedly lured accountholders by offering an 18% interest on their deposits and even maintained a three-month interest payment cycle to gain their confidence.
Of the Rs 300 crore parked in different accounts, associates of the Hero group accounted for Rs 200 crore while the rest came from individual accountholders.
Gurgaon police chief SS Deswal said, “The bank is now supposed to tell us how much is left in the accounts to which money had been transferred over the last year.”
He said the police had information about Rs 3.85 crore parked in 18 accounts, but details of more than 60 accounts were still required.
"We will also search his Hamilton Court house (where Puri’s parents live) to see if we can get crucial documents,” he said. Puri’s surrender was reportedly negotiated through his parents and grandparents.