The main accused in the Citibank fraud case, Shivraj Puri has surrendered in the court and police has sought remand, reports CNBC-TV18.
Divulging details about the case, Gurgaon DCP said that the quantum of the fraud is almost Rs 300 crore, out of which Rs 200 crore belong to the Hero Group family. The police has traced upto 80 accounts belonging to banks and brokerages. According to Police, broking companies Religare, Bonanza, Okaya and one more is involved in the fraud.
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Citibank is investigating a fraud case by one of its Gurgaon branch employee who has allegedly siphoned off money from various HNI clients.
The bank, which struggled amid mounting losses on credit cards and mortgages, has been selling some of its assets from its Citi Holdings unit. Citi last month sold a USD 1.4 billion real estate loan portfolio to OneWest bank, helping it shrink Citi Holdings to less than 20% of Citi's total balance sheet.
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