Gurgaon Citibank

• Citibank probe: ED orders attachment of assets worth Rs 20 cr

  The Enforcement Directorate has issued orders attaching assets worth about Rs 20 crore in connection with its money laundering probe in the Citibank Gurgaon fraud scam.

• RBI fines Citibank Rs 25 lakh in Gurgaon branch fraud case

  The Reserve Bank has imposed a penalty of Rs 25 lakh on US-based Citibank for not following account opening and anti-money laundering norms at its Gurgaon branch, which witnessed a fraud of Rs 461 crore last year. "The failure in following the Know-Your Customer (KYC)/Anti-Money Laundering (AML) guidelines while opening accounts led to the ...

• Citibank fraud: 8 employees fired

  A Chartered Accountant firm hired to help crack the Rs 460 crore fraud at a Citibank branch will submit its report soon, says Gurgaon police.Soon after the arrest of the alleged mastermind Shivraj Puri, relationship manager at Gurgaon branch, the Police had hired the firm to study money trail. Meanwhile, Citibank has terminated services of eig...

• Citibank scam: Two more Hero executives who participated

  After its Assistant Vice President Sanjay Gupta was arrested in connection with the 300-crore Citibank scam, the Hero Group  has reportedly identified two more employees who participated in the swindle. "Ganpat Singh and Gaurav Jain -- working in the accounts department have also been identified to have been in possible collusion with Sanjay G...

• Citibank's Vikram Pandit won't be questioned: Gurgaon police

  After one of its big investors filed an FIR naming Citibank CEO Vikram Pandit, and other senior officials, in the Rs 300 crore scam, the Gurgaon police have said they will not be calling Citibank's top bosses for questioning.The decision comes after Citibank issued a statement in strong defence of its honchos, saying the person who filed the case i...

• Statement issued by Hero Group on Citibank fraud

  The Hero Group on Friday acknowledged that it invested close to Rs 29 crores in schemes suggested by Shivraj Puri, the Citibank executive who is believed to have pulled off a 300-core scam at the Gurgaon branch of the bank. However, the group clarified that its flagship company, Hero Honda Motors, had not been impacted by the scam.They issued the f...

• Citibank fraud: Hero Group CFO, Sanjay Gupta, arrested

  Sanjay Gupta who is the Chief Financial Officer of the Hero Group was arrested in connection with the 300-crore Citibank scam today.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.A manager at the Gurgao...

• Citibank fraud: Reserve Bank of India to probe scam

  The Reserve Bank of India (RBI) has begun a probe into the Rs 300 crore fraud at Citibank's Gurgaon branch.RBI Executive Director G Gopalakrishna told reporters on Friday, that soon a statement in this regard would be made.  Shivraj Puri, a bank executive, had duped customers into depositing Rs 300 crore in accounts set up by him making them b...

• RBI starts inquiry in Citibank fraud

  Reserve Bank of India (RBI) today said it has initiated a probe into the Rs 300 crore fraud at Citibank's Gurgaon branch and would soon issue a statement in this regard."Any bank where fraud (has taken place), we cannot (ignore)...and from banking side we have to do our own job...how it (Citibank fraud) has happened and what are the implications," ...

• Citibank fraud: Manager arrested, sent to police custody

  Citibank manager Shivraj Puri, accused of cheating investors of around Rs. 400 crore, has been arrested. He will spend the next seven days in jail.Puri, a Relationship Manager at the Gurgaon branch of Citibank, had been missing ever since the scam that he allegedly masterminded was reported to the police. He surrendered this morning.  The poli...

• Citibank fraud: Gurgaon-based employee is missing

  The Citibank employee who is believed to have stolen close to Rs 400 crore from different Citibank accounts remains missing.Shivraj  Puri,  who worked at the bank's Gurgaon branch as a relationship manager, is accused of siphoning money from 20 accounts of high net worth individuals. He allegedly promised clients high returns from investm...

• Rs 400 crore fraud uncovered at Citibank's Gurgaon branch

  A big banking fraud was uncovered at the Gurgaon branch of Citibank that saw a bank employee fraudulently diverting an estimated Rs 400 crore from 20 accounts of high-networth clients.Citibank has already lodged an FIR and commenced internal investigation into the fraud."We recently initiated an investigation into a certain set of suspicious transa...