<p>This is for the second time in a week that the two-member team from the investigation department of the market regulator Securities and Exchange Board of India (Sebi) questioned people involved in the bank fraud case.<br /><br />Sebi officials, according to sources, also briefed Gurgaon Police Commissioner S S Deswal and his team, which is looking into the banking fraud. Puri, the mastermind behind the Rs 300-crore Citibank fraud, used to collect fund from HNIs and corporates by showing a forged notification of Sebi. He lured them into investments promising unusually high returns. He was later arrested by the police.<br /><br />Gupta, Associate Vice President (Accounts) of one of the Hero Group entities -- Hero Corporate Services, too was arrested by the local police for his involvement in the bank fraud case.<br /><br />He allegedly invested Rs 250 crore of funds belonging to promoters of Hero Group and has reportedly received a commission of Rs 20 crore from Puri. Sebi officials, according to sources, also met the staff of the brokerage firms -- Religare and Bonanza -- in connection with the banking fraud.<br /><br />Puri used to invest directed funds into stock markets through these brokerage firms. Religare Securities had said that Puri was its client since December 2009.<br />Sebi, sources said, was trying to find out whether people connected with the banking fraud case were involved in share price rigging or manipulation of stock market.</p>
<p>This is for the second time in a week that the two-member team from the investigation department of the market regulator Securities and Exchange Board of India (Sebi) questioned people involved in the bank fraud case.<br /><br />Sebi officials, according to sources, also briefed Gurgaon Police Commissioner S S Deswal and his team, which is looking into the banking fraud. Puri, the mastermind behind the Rs 300-crore Citibank fraud, used to collect fund from HNIs and corporates by showing a forged notification of Sebi. He lured them into investments promising unusually high returns. He was later arrested by the police.<br /><br />Gupta, Associate Vice President (Accounts) of one of the Hero Group entities -- Hero Corporate Services, too was arrested by the local police for his involvement in the bank fraud case.<br /><br />He allegedly invested Rs 250 crore of funds belonging to promoters of Hero Group and has reportedly received a commission of Rs 20 crore from Puri. Sebi officials, according to sources, also met the staff of the brokerage firms -- Religare and Bonanza -- in connection with the banking fraud.<br /><br />Puri used to invest directed funds into stock markets through these brokerage firms. Religare Securities had said that Puri was its client since December 2009.<br />Sebi, sources said, was trying to find out whether people connected with the banking fraud case were involved in share price rigging or manipulation of stock market.</p>