Jan 07

Bank chose to ignore Puri’s dealings: Victim

Bank chose to ignore Puri’s dealings: Victim
GURGAON: Sanjeev Aggarwal, a high net worth investor, who was a victim of Shiv Raj Puri’s ponzi scheme told TOI that he was hurt by the fact that Citibank chose to ignore Puri’s dealings despite being such a high-profile bank. He termed the scam as a systemic failure and said that everyone in the bank, including its top CEO in the US, were responsible for the mess. Aggarwal said that at one point, the bank was keen on settlement but then they stopped responding to his mails and queries.
Citibank CEO will not be summoned
GURGAON: Citibank CEO Vikram Pandit and his colleagues will not be questioned in connection with the 300-crore scam in Gurgaon. Pandit and 10 other senior Citibank officials were named in an FIR filed by Sanjeev Aggarwal, the managing director of Helion, for duping him of Rs 32.43 crore.

Aggarwal was one of the investors who had put their money in Shiv Raj Puri’s ponzi scheme. The Gurgaon police on Wednesday said Pandit and the other senior officials will not be summoned. Instead, local Citi officials will be questioned. On Wednesday, the police confirmed the net amount involved in the scam to be between Rs 250 and 300 crore. Prime accused Shiv Raj Puri had invested the money he got from his customers in stocks since June 2010. “As of now the possibility of involvement of global CEO and others, including the ones India head looks remote,” Gurgaon police commissioner S S Deswal said.
Police question 2 Hero employees involved in scam
GURGAON: The Gurgaon police have questioned two employees of Hero Associate Services Ltd on Wednesday in connection with the multi-crore Citibank scam. On Monday, Gurgaon police had arrested Sanjay Gupta, the company’s associate vice president. According to sources, the two employees have been identified as Ganpat Singh and Gaurav Jain. The two men may have been involved in the scam along with Gupta. “Following an initial internal enquiry, two employees working in the accounts department have been identified to have been in possible collusion with Sanjay Gupta and Citibank employees,” Hero Group said in a statement on Wednesday. It added that the two have been sent on leave with immediate effect. “This is in addition to the suspension of Gupta by the company. Appropriate action will be taken after the final outcome of the enquiry,” the statement said.
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