CITI-LD PANDIT 2LST

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.
Aggarwal, in a statement, said, "I am devastated at the
loss of my savings and strongly feel that Citibank NA is
accountable to return my money."
"Being a multinational bank of formidable repute, we
trusted Citibank with our life savings which have now been
wiped out by an illegal act and offence committed by the bank
and its employees," he added.
He further said that it was impossible for an employee to
undertake fraud of such a scale without the knowledge of bank
and questioned "where are the checks and balances of the
bank?"
He further alleged that over the past 18 months the
Relationship Manager assigned by Citibank has been regularly
sending fabricated portfolio statement from his bonafide
account mentioning the various investments made and the
current value of their account. PTI