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Citibank fraud: Puri implicates his father

Jan 12, 2011 05:07 PM IST India India

Gurgaon: Shivraj Puri, the mastermind of the Rs 300 crore Citibank fraud, has implicated his father Raghuraj Puri in the case. Puri reportedly told the court that Rs 50 crore of the scam money was invested in his father's company.

Police also told the Gurgaon court of Chief Judicial Magistrate DN Bhardwaj that Puri has said his father was an equal accomplice.

Raghuraj Puri is a director in Norman Martin and police say they want to investigate his property in Haridwar and also confront Shivraj Puri with documents from chartered accountants.

Meanwhile, the anticipatory bail hearing of Puri's father is coming up on Thursday.

Meanwhile, the Chief Judicial Magistrate DN Bhardwaj remanded Puri in police custody for two more days after public prosecutor said that police needed more time to gather evidence and verification of data gathered by chartered accountants.

Police wanted Puri's custody extended since his iPad, suspected to contain crucial information, has still not been recovered.

Puri, who was a Relationship Manager at Citibank's Gurgaon branch, was arrested by the police last month after the multi-crore scam was detected. He was remanded in police custody for seven days, which was extended by six days on January 6.

Victims of the Citibank fraud include Hero Group promoters (Rs 250 crore) and Helion Advisors Managing Director Sanjeev Aggarwal (Rs 33 crore).