Mastermind of Rs 400 crore Citibank scam in 2010 arrested from Dehradun

Sanjay Yadav
Gurugram, November 15

Shivraj Puri, a proclaimed offender who masterminded a Rs 400 crore scam in Citibank in 2010 and went into hiding following conclusion of bail was arrested again by Gurugram police.

Puri was nabbed by Sikanderpur crime branch from Dehradun. According to police, he had been cheating people even while on the run. He was produced before a duty magistrate court and sent into judicial custody.

The accused is identified as Shivraj Puri, resident of Princeton Estate, DLF Phase-5. In 2010 he was nabbed for Rs 400 crore Citibank scam. He was charged with luring high net worth individuals and corporate entities into making investment and diverting these investments into stock market and causing huge losses to the tune of Rs 405.52 crore to the investors.

Working as a relationship manager with Citibank, Shivraj had allegedly siphoned money amounting to Rs 400 crore of various customers to fictitious accounts.

After coming out of jail in 2018 he jumped the bail and also cheated many people again on the pretext of getting best returns on investment. He was declared a proclaimed offender and bail jumper by a city court in 2018 and he was on the run. An FIR was registered against him at Shivaji Nagar police station.

The crime unit, Sikanderpur, finally nabbed him from Dehradun on Friday. He was sent into jail by a city court on Saturday.

“The accused Shivraj Puri is very vicious and has carried out various fraud cases. Three cases of cheating have been registered against him in Gurugram and he was declared proclaimed offender and bail jumper in two cases. We will take him on production warrant for questioning soon”, said Preet Pal Singh Sangwan, ACP, Crime.