The police here on Saturday estimated the Citibank fraud to be at Rs.400 crore, involving accounts of about 29 entities.
Meanwhile, a local court extended the police custody of Hero Group senior employee Sanjay Gupta till January 15.
The police described Citibank's Relationship Manager at Gurgaon branch Shivraj Puri, the alleged mastermind of the fraud, as an “educated and clever person” who had diverted funds of companies and individuals into an account jointly held by his relatives Premnath Puri, Diksha Puri, and Shaila.
“In the fraud, transactions worth Rs. 400 crore had happened ... (Police is ) taking assistance of chartered accountants. Inflow/outflow chart is being prepared in the presence of Puri (alleged mastermind of the scam),” the report said.
