Asia Bizz: Citibank relationship Manager, Shivraj Puri has been shrouded in a Rs.300-350 crore financial scam. After the incident came to light that Mr. Puri has been roped in this fraud scam, it can be termed as one of the biggest bank scams in India. The whole matter came into the media when the foreign based bank launched a series of financial investigations into a set of particular transactions, and as a result they have found Mr. Puri responsible.
This scam is related to the Gurgaon Branch in India, where the Vice President of the Bank, Binu Soman, had lodged a complaint to the police in context to this fraud. Mr Soman says that Puri had opened a joint bank account in the name of Prem Nath, Sehna Prem Nath, and Deeksha Puri in the month of September.
What became very suspicious was, when the bank checked that this particular bank account had a huge quantity of cash reserves, and this is where they felt something was quite wrong. On the other hand, there are customers who are accusing the bank that they had promised very high interest rates on their savings, but has not turned out so. It was later known that Puri had lured these investors to put in their money into the bank and subsequently duped them.