New Delhi:
The Gurgaon court has extended police remand of Hero Group CFO Sanjay Gupta in Citibank fraud case by another seven days.
Sanjay Gupta who is the Chief Financial Officer of the Hero Group was arrested in connection with the 300-crore Citibank scam.
The Hero Group CFO allegedly got kickbacks for investing the company's money through suspended Citibank manager, Shivraj Puri. He was produced in court where he was remanded to five days custody on January 3.
Now, Gupta will remain in police custody till January 15.
A manager at the Gurgaon branch of Citibank, Shivraj Puri, was arrested for lying to individual and corporate account holders.
Puri allegedly promised them high returns through special schemes, then diverted their money into the stock market through accounts opened in the names of his family and friends.
Up to 20 corporate clients - including Hero - were allegedly affected by the scam.