In India, a Citibank employee has been arrested by the police on account of tricking people and committing fraud to the tune of millions of dollars.  The employee worked for the global bank in Gurgaon, a wealthy suburb of Delhi.  The allegations of the suspected fraud surfaced earlier this month.

Shivraj Puri, 32, who been accused of the fraud told the Times of India newspaper that these are mere allegations which have nothing to do with the truth. He said that he has given complete information to the police and truth will speak for itself.

According to investigators, an amount of around $20 m (£13m) has been filched though the bank has not made any estimates yet. The money has said to be channeled to three relatives account.

Through a bogus scheme, investors were attracted to invest money and get high returns fast. It came to surface when a customer told the scheme to a senior bank manager.

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