Gurgaon, Dec 30: Yes, the man who siphoned off a whopping Rs 400 crore from various accounts in Citibank's Gurgaon branch has been arrested. The Gurgaon police has claimed that they made the arrest on Thursday, Dec 30. He was absconding and a look-out circular was issued for him.
The bank's relationship manager was reported to be soft-spoken and reserved. He produced fake Securities and Exchanges Board of India (SEBI) documents to con customers to depositing funds into accounts created in the names of his relatives.
To know more,http://news.oneindia.in/2010/12/30/shiv-raj-puri-arrested-in-gurgaon.html
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The incident is a warning to all to be very careful with financial transactions. Any unusual suggestion needs to be verified from independent sources. In these days of fast communication and internet, it should not be difficult for a vigilant investor. Even if the investors had contacted the Branch manager, they could not be defrauded.
It is fatal to trust any one blindly.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
