A local court rejected the bail plea of Sanjay Gupta,a co-accused in the Citibank fraud case. Rejecting the bail plea,Additional Sessions Judge Vimal Kumar said,"The banking transactions show transfer of huge amount of money to the tune of Rs 20 crore to Sanjay Gupta's account. So,Sanjay Gupta is involved in the corporate scam," Citibank counsel Harish Malhotra argued against the bail plea in the additional sessions court. This was second bail plea of Gupta,who was Associate Vice President (Accounts) of one of the Hero Corporate Services,a Hero Group entity. Several depositors and high-networth individuals (NHIs) were duped to the tune of Rs 460 crore in a fraud allegedly masterminded by Citibank's Global Wealth Manager at Gurgaon branch Shivraj Puri. The Director of Income Tax and the Directorate of Enforcement (ED) have initiated investigation in the Citibank fraud case.
