Read: Scam hits Citibank India; fraud worth 400 crore
An entrepreneur and venture capitalist in Gurgaon, Sanjeev Aggarwal filed an FIR against Pandit over the misplacement of Rs 32.43 crore which Aggarwal invested in the bank to buy securities which were never transferred to him (Aggarwal).
"They (Citibank) used my money to invest but the investments were never in my name... My life's savings are gone," stated frustrated Aggarwal.
When Aggarwal was asked about his delayed complaint, he claimed, "My belief was that they (Citi) will reimburse the amount. But whenever I raised the issue with the bank, it went into silence."
"All persons named (in FIR)... in collision and conspiracy with each other and other known or unknown persons, (and) have misappropriated large sums of money to the tune of Rs 32.43 crore," stated Aggarwal in his FIR.
The others who have been named in the FIR include Citibank's senior officials CFO John Gerspach and COO Doughlas Peterson (both based in New York).
However, rejecting all allegations, Citibank spokesperson claimed, "As this individual well knows, Citi identified the fraud and immediately reported the matter to the regulators and law enforcement agencies. His claims against senior executives are completely without basis and we intend to contest them vigorously."