Gurugram: Accused involved in Rs 400 Cr fraud with Citibank held

The accused was arrested then but he was on bail granted by the court. But later on the accused didn't appear before the court and was declared a proclaimed offender.

Gurugram: A man involved in a Rs 400 crore fraud case with Citibank in 2010 was arrested by the Gurugram police, officials said on Sunday.

The accused was arrested then but he was on bail granted by the court. But later on the accused didn’t appear before the court and was declared a proclaimed offender.

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The arrested accused was identified as Shivraj Puri, a resident of DLF Phase-5 in Gurugram.

According to the police the culprit was sentenced by a Gurugram court over an alleged fraud case but the accused had moved the High Court which granted him bail.

The accused was nabbed from Dehradun on November 13, the police said.

“He was on bail but he didn’t attend any court proceeding since then and later he was declared a proclaimed offender by the court. After coming to bail, the accused carried out several incidents of cheating in crores of rupees by tempting people to invest their money in the name of getting good returns. In connection with these frauds two separate cases were registered against him in Gurugram, said ACP (crime), Preet Pal Sangwan.

The police will seek remand of the accused for further questioning, Sangwan said.

In 2010, the Citibank fraud had hit the several headlines across the country. Apart from the Gurugram police, a team of Securities and Exchange Board of India (SEBI) had also conducted separate investigations in connection with the huge fraud.

In connection with this a case was registered under Section 406, 420, 467, 468, 471, 120B of the IPC at DLF Phase-2 police station in Gurugram.

 

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