Citi fraud: Police looking for missing iPad of Puri

The police are looking for a missing iPad which was used by Citibank fraud main accused Shivraj Puri and contains information central to investigation into the Rs 300 crore scam.

Puri, Relationship Manager of Citibank and mastermind of the high-profile banking fraud, was reportedly using the latest electronic device to communicate with his clients, sources said.

Like a computer, iPad can be used to store data and surf internet, besides sending messages and performing other functions.

IPad, sources added, could provide vital clues about the details of money transactions and contacts of Puri who used to lure high networth individuals into investing in bogus schemes on promise of abnormally high returns.

The information about missing iPad was disclosed by public prosecutor during the hearing on the remand application of the police seeking extension of Puri's custody.

Describing the iPad as centre piece of investigation, the public prosecutor stressed that it was important to get hold of the communication device which was extensively used by the accused.

The local court later extended the remand of Puri by six more days uptil January 12.

The major clients who lost money in the Citibank fraud case include Hero Group promoters (Rs 250 crore) and managing director of Helion Advisors Sanjeev Aggarwal (Rs 33 crore).

The police had earlier in the week arrested Sanjay Gupta, Associate Vice President of Hero Corporate Services for allegedly colluding with Puri and investing huge funds belonging to promoters of the Hero Group.

Puri is reported to have paid a heafty commission of Rs 20 crore to Gupta.