Gurgaon, Jan 04 (Agencies): Several High Networth Individuals (HNIs), who are also victims of Rs 300 crore fraud allegedly masterminded by Shivraj Puri, the Citibank's Relationship Manager here, have complained to the police that their securities were encashed without their knowledge.

"We are examining the complaints of HNIs," a senior police official said.

These investors were lured into investing funds on promise of high returns by Puri, the main accused in the Rs 300 crore scam.

Police, sources said, was in touch with all HNI investors which include about 20 corporate entities.

These investors have complained to the police about liquidation of their shareholding from their demat accounts without their knowledge.

Among the major investors, Hero Group entities had reportedly invested Rs 250 crore in various schemes.      Police has already questioned senior officials of two brokerage entities -- Religare Securities and Bonanza -- through which the money was routed in the stock exchanges, mainly Nifty index options (derivatives).

Gurgaon Police is also taking help of Chartered accountants to crack this case.

Police sources also informed that Raghuraj Puri, father of the kingpin, runs a brokerage entity.

The Police on Monday arrested Sanjay Gupta, an Assistant Vice-President with Hero Group, who allegedly received kickbacks for arranging investments from Hero Group.

Currently along with Shivraj Puri, Gupta is in Police custody.

The Police on Monday froze two accounts opened by Gupta with Axis Bank which were having Rs 4-5 crores of the alleged commission money he got from Puri for investing in corporate funds.

Puri used to sell investment products by showing a forged letter of the market regulator SEBI with a claim that they would generate very high return of 18 per cent.

 

Citibank fraudster’s parents summoned

Raghuraj and Deeksha Puri, parents of Citibank manager Shivraj Puri who is accused of masterminding a Rs.300 crore fraud, were summoned by the police Tuesday to help in the investigations, police said.

Gurgaon Police Commissioner S.S. Deswal on Tuesday sent a letter to Raghuraj's Mumbai-based company Normans Martin as the parents remain untraceable, said a police officer, requesting anonymity.

The police also unearthed eight accounts of the company in Citibank's Gurgaon branch, the police officer added.

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 reportedly managed to con companies and high net worth individuals after forging Securities and Exchange Board of India (SEBI) documents backing his claims.