Citi fraud: I-T Dept likely to probe source of funds: "Income Tax Department may conduct a probe of its own into the Rs 400 crore fraud exposed at Citibank's Gurgaon branch to ascertain if black money found its way into the ponzi scheme designed by Relationship Manager Shivraj Puri.
'The department may look into the matter to find out if unaccounted money was routed to the stock market or elsewhere with the help of the accused,' sources said.
However, the Income Tax Department is yet to initiate action on the fraud, which at present only covers the investment made by about 20 corporate entities and two dozen high net-worth individuals (HNIs)."
'The department may look into the matter to find out if unaccounted money was routed to the stock market or elsewhere with the help of the accused,' sources said.
However, the Income Tax Department is yet to initiate action on the fraud, which at present only covers the investment made by about 20 corporate entities and two dozen high net-worth individuals (HNIs)."
