Citibank's new scam; FIR against CEO Vikram Pandit
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."
OneIndia News