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CA firm to submit report on Citibank fraud soon

Gurgaon: A chartered accountant firm hired to help crack the Rs. 460-crore fraud at a Citibank branch here will submit its report soon, said Gurgaon's Police Commissioner S. S. Deswal on Wednesday.

Soon after the arrest of alleged mastermind Shivraj Puri, a relationship manager at the bank's Gurgaon branch, the police had hired a CA firm to study the money trail.

Services terminated

Citibank meanwhile has terminated the services of eight employees, including Puri, in connection with the fraud.

“Following disciplinary procedures, the services of a few employees of our Gurgaon branch have been terminated,” a Citibank spokesperson said.

According to sources, some of these employees include Gurgaon branch manager Amit Zalpuri, Assistant Sales Manager Kapil Chabra and Branch Investment Counsellor Nitin Chawla.

Other probes

However, their names could not be ascertained from the bank.

At the same time, Citibank is in the process of compensating customers, several corporates and high-net worth individuals (HNIs) who lost Rs.460.91 crore in a scheme floated by Puri promising high returns.

Using a fabricated Securities and Exchange Board of India circular, Puri lured people into investing in accounts held by accomplices Premnath, Shiela Premnath and Deeksha Puri.

Besides the police enquiries, the Directorate Of Income-Tax (Investigation) has also initiated proceedings to track the source of deposit of the affected persons in Citibank.

The Directorate of Enforcement too is inquiring into the matter. — PTI

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