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A local court on Friday extended the judicial custody of Shivraj Puri, the alleged mastermind of the Rs 400 crore Citibank fraud, and co-accused Sanjay Gupta, till February 11.
Chief Judicial Magistrate Mr D N Bhardwaj extended the custody by 14 days.
Puri, a Relationship Manager employed with Citibank’s Gurgaon branch, allegedly duped high networth individuals (HNIs) and corporates by collecting funds from them on promise of unusually high returns.
Gupta allegedly arranged funds for Puri and in lieu got commission of Rs 20 crore. A multi-pronged probe involving the police, banking regulator RBI and capital markets watchdog Sebi is currently underway in the fraud case.
Mr Sanjeev Aggarwal, one of the HNI victims, had even named Citibank’s global chief Mr Vikram Pandit and other senior executives in his complaint. Citibank also said it was working towards providing “fair compensation” to its affected customers.
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