Investors had lost around Rs 250 crore after their money was invested by Citibank fraudster Shivraj Puri in Nifty options, said a police chargesheet filed in the Rs 400 crore scam. As per the chargesheet filed in the Civil Senior Division Court here on Tuesday, a sum of Rs 292.68 crore, fraudulently obtained from investors, was invested by Puri in Religare Security Ltd, Bonanza Portfolio Ltd and India Infoline Trader Terminal, out of which around Rs 250 crore were lost, Gurgaon Police Commissioner S S Deswal said.

The 25 page chargesheet has been filed by Gurgaon Police even as it awaits the final report of the Securities and Exchange Board of India (SEBI) looking into the scam.

Shivraj Puri had allegedly paid Rs 20 crore to Sanjay Gupta, a senior official of Hero group, as commission for alluring corporate entities and high worth net individuals for investing in his schemes, the chargesheet said.

Another employee Gaurav Jain had also allegedly received Rs 1.2 crore from Puri, it said.

The police had named Shiv Raj Puri as prime accused while Sanjay Gupta and Gaurav Jain as the co-accused in the scam.

Shivraj Puri had also invested some amount in real estate wherein he had bought some properties in Gurgaon and nearby areas, informed Deswal.

Besides that, Gurgaon police had also recovered around Rs 4 crore from various banks accounts of the three accused, informed the police commissioner.

The chargesheet contains around 25 pages, which are supported by around 2000 pages and other documents including reports of SEBI, Citibank, Charter Accounts, hired by Gurgaon police, financial statements of banks and broke-age firms.

As per the chargesheet, there would be around 100 witnesses in the whole case, added the sources.

The police sources further informed the Citibank had refunded the principal amount to all corporate entities and HNIs, invested by them through Shivraj Puri.

Currently all three accused are lodged in Bhondsi Jail.

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February 2024