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| Citibank Fraud |
It was a major blow to Indian financial service industry. The real
culprit behind this scene is Mr. Shivraj Puri, who was working as the
relationships manger with Gurgaon branch of Citibank. He lured investors
into a fake scheme with the help of forged circulars from Securities
and Exchange Board of India (SEBI) with a hope to cash on very high
interest rates. He came into light when the bank started receiving
complaints from various clients about a scheme which was non-existent
for the bank.
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