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Citi fraud: Puri handed a six-day remand

Alleged Citi fraudster Shivraj Puri has been remanded to a six-day police custody.

News18test sharma |

Updated:January 6, 2011, 4:59 PM IST
Citi fraud: Puri handed a six-day remand
Alleged Citi fraudster Shivraj Puri has been remanded to a six-day police custody.

Gurgaon: Citibank manager Shivraj Puri, accused of masterminding a Rs 300 crore fraud, was handed a six-day police remand on Thursday.

"Puri was produced in court and he has been remanded to six-day police custody," Puri's lawyer Sartaj Baswana said.

An official said police took Puri's custody to trace an iPad that contains important information. Also, experts with knowledge in stock exchange functioning would question him during the remand period.

Puri surrendered to police on January 30 and was handed a week-long police remand by a special court in Gurgaon the same day.

Working as a relationship manager, Shivraj allegedly cheated investors by asking them to deposit money into accounts managed by him, promising to invest it in schemes that offer very high interest within a short span of time.

Puri allegedly managed to con companies and high net worth individuals after forging a Securities and Exchange Board of India (SEBI) document that purportedly backed his claims about schemes offering high returns.

He will be again produced before the court on January 12.

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