The police here today estimated the Citibank fraud to be at Rs 400 crore involving accounts of about 29 entities. Meanwhile, a local court extended the police custody of Hero Group senior employee Sanjay Gupta till January 15.
In a report filed with a city court, the police described Citibank's Relationship Manager at Gurgaon branch Shivraj Puri, the alleged mastermind of the fraud, as an "educated and clever person" who had diverted funds of companies and individuals into an account jointly held by his relatives Premnath Puri, Diksha Puri and Shaila.
"In the fraud, transactions worth Rs 400 crore had happened ... (Police are) taking assistance of chartered accountants. Inflow/outflow chart is being prepared in the presence of Puri (alleged mastermind of the scam)," the report said, adding market regulator SEBI is also conducting its own probe into the fraud.
Earlier, the police had estimated the total fraud to be at Rs 300 crore. The entities whose funds were diverted by Puri into the account of his relatives include Hero Corporate Services (Rs 13.75 crore), OKS Sapantak (Rs 2 crore) and Satyam Auto (Rs 25 crore).
They also include Mayar Infratech (Rs 24 crore), Spaid (Rs 62 crore), Karopat Pad (Rs 8 crore), Sunil Kant and Sons (Rs 3 crore) Aero Infratec (Rs 25 crore), Hero Exports (Rs 97 crore), Rekha Munjal (Rs 5 crore), Munjal Investments (Rs 2.5 crore) and Munab Braej (Rs 71 crore).
Besides the entities named in the report, police further said that they were trying to ascertain records of other firms which had lost money in the fraud. The scam was uncovered at Gurgaon branch late last month.
Police said efforts were also being made to find out details of properties owned by Puri and his relatives. Police have not being able to recover the iPad, a latest electronic device, used by Puri to communicate with his clients and store data, it said.
Although Puri is in police custody, all his three relatives named in the report are absconding. Meanwhile, the local court extended the police custody of Puri's alleged accomplice Gupta by seven days till January 15. Police sought extension of Gupta's remand as they were yet to recover Rs 3.94 crore and a car from the accused.
Gupta was Associate Vice President of Hero Corporate Services and was reported to have received Rs 20 crore from Puri for investing Rs 250 crore belonging to Hero Group companies and promoters in fake schemes. Police on January 3 arrested Gupta under the section 120B of the Indian Panel Code that deals with criminal conspiracy. In another development, Puri's father Raghuraj Puri filed an application for anticipatory bail which will come up for hearing on January 12.