The Gurgaon police have estimated that the alleged fraud perpetrated by Citibank Relationship Manager Shivraj Puri amounted to Rs 400 crore, involving accounts of about 29 entities, including Hero Group promoters.
In a report filed with the city court, the police said Puri was a “educated and clever person” and had diverted funds of companies and individuals into an account jointly held by his relatives Premnath Puri, Diksha Puri and Shaila.
Although Puri is in police custody, the three relatives named in the report are absconding.
“In the fraud, transactions worth Rs 400 crore had happened...(Police is) taking assistance of chartered accountants. An inflow/outflow chart is being prepared in the presence of Puri”, the report said, adding that Sebi was conducting its own inquiry.
Earlier, the police had estimated the total fraud at Rs 300 crore.