The bank has been in touch with its affected customers and is fully committed to safeguarding their legitimate interests, it said in a statement in Mumbai.
Citibank, one of whose Gurgaon branch employees is accused of a Rs400 crore fraud, today said that it is working towards providing a "fair compensation" to its affected customers.
The bank has been in touch with its impacted customers and is fully committed to safeguarding their legitimate interests, it said in a statement in Mumbai.
"As we have stated earlier, we identified suspicious transactions at our Gurgaon branch in early December and immediately reported the matter to law enforcement and regulatory authorities. We have since been in contact with our impacted customers and are committed to safeguarding our customers’ legitimate interests," the statement said.
One of its employees, Shivraj Puri, is accused of luring high net-worth individuals to invest in a bogus investment scheme on the pretext of high returns, while diverting the funds to the stockmarket.
Yesterday, he was remanded to 14 days judicial custody (till January 28) by a local court. He was initially taken into seven days police custody on December 30 last year after the scam was detected.
Later, the police remand of Puri was extended for six days on January 6 and then, subsequently, for two days on January 12.
Victims of the fraud include big names such as the promoters of the Hero Group (Rs250 crore) and Helion Advisers managing sirector, Sanjeev Aggarwal (Rs33 crore).
Puri is accused of luring about 40 high net-worth individuals and corporate entities to invest in his scheme on the false promise of securing sky-high returns for them.
The global banking major said that it has been reconciling amounts involved with impacted customers and is now commencing the process of working towards a fair compensation for them.
"This process will happen over a period of time. We would like to thank our customers for their patience and co-operation. We will also continue to support the investigating authorities fully until this matter is resolved and brought to its logical conclusion," the statement said.
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