Top Hero Group official asked to join Citibank fraud probeDecember 31st, 2010 - 8:49 pm ICT by IANS
Gurgaon, Dec 31 (IANS) The Chief Financial Officer (CFO) of Hero Corporate Ltd, which was allegedly duped in the Rs.300 crore Citibank fraud, was Friday called by Gurgaon police to join the investigations, sources said here. “Sanjay Gupta who used to deal with Sanjay Puri (Citibank’s relationship manager and mastermind of the scam) joined the investigations today. Other associates of Hero Group will also be called to give their statements,” a highly placed source said.
Hero Corporate is one of the associates of Hero Group which had invested money in Puri’s account.
Officials from Religare and Bonanza were also called Friday and their statements were recorded. “We have to go through a lot of documents and every day one CFO will be called to give details,” he further said.
Shivraj Puri had surrendered Thursday and was handed a seven-day police remand even as the quantum of his alleged fraud was raised three times to Rs.300 crore ($65 million).
According to police, firms belonging to the Delhi-based Hero Group invested Rs.200 crore in Puri’s account and Rs.100 crore was invested by individuals. Puri, in turn, invested the money in five major brokerages, including Religare, Okaya and Bonanza.
Some 40 teams have also been constituted to track some 81 accounts into which the 32-year-old accused is alleged to have deposited the money.
The Hero Group Friday said that its exposure to the scam was just Rs.28.75 crore and that investments were made by its entities.
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- Hero Group official held in Rs.300 crore Citibank fraud (Lead) - Jan 03, 2011
- Top Hero Group official held in Citibank fraud (Second Lead) - Jan 03, 2011
- Top Hero Group official held in Citibank fraud (Fourth Lead) - Jan 03, 2011
- Hero Group: Exposure in Citibank scam Rs.28.75 crore - Dec 31, 2010
- RBI to probe Citibank scam in Gurgaon - Jan 01, 2011
- Mastermind behind Rs.300 crore Citibank fraud held (Second Lead) - Dec 30, 2010
- Two more executives may be involved in Citibank fraud: Hero - Jan 05, 2011
- Citibank manager accused of $65 mn fraud surrenders (Roundup) - Dec 30, 2010
- Citibank fraud: Gurgaon Police summons Puri's parents for interrogation - Jan 04, 2011
- Citi banker accused of $65 mn fraud gets week-long police remand (Intro Roundup) - Dec 30, 2010
- Citibank fraud: Gurgaon Police registers FIR against Citi Group CEO Pandit - Jan 04, 2011
- Rs.300-cr Citibank fraud accused gets six more days in remand (Roundup) - Jan 06, 2011
- Several parties involved in Citibank fraud, says Aggarwal - Jan 05, 2011
- Citibank fraud: Puri sent to judicial custody till Jan.28 - Jan 14, 2011
Tags: bonanza, brokerages, cfo, chief financial officer, citibank, corporate ltd, crore, fraud probe, gurgaon, hero group, investigations, mastermind, okaya, quantum, relationship manager, religare, sanjay gupta, sanjay puri, seven day, three times