Master Minds

* MASTER MIND OF SCAM:-SHIV RAJ PURI RELATIONSHIP MANAGER ESTIMATED FRAUD :- 350 crores use forged SEBI letters to convince the clients to put in funds .Atleast 30 investors invested money. Shivraj Puris job was to open accounts for customers. Shivraj Puri opened 3 in the name of Premnath, Sheila Premnath and Diskha Puri, all his relatives, The circular on a forged letterhead of SEBI stated that by depositing money in those common chord accounts, the Citibank account holders could hire benefits, apart from a higher station of interest the highest amount was said to be of Hero Group Associates company. new(prenominal) corporate houses like Religare and Okaya had similarly invested their money. He said that the investments were also made through broker company Marting which belongs to father of the accused. A team of 40 police finish upicers was investigating this scandal. The racket involved investments of high net worth individuals (HNIs), who were given firm commitments of periodical returns as high as 1.5-2.5 per cent, or 18-30 per cent annually. jook fixed deposit receipts were issued against these investments.

An FIR No 341 was registered on Monday at the DLF Phase II police station nether sections 420, 467, 471 and 120B of Indian Penal Code (IPC). So brazen was the tercet that they opened an account (No 5011666247) at the Gurgaon branch itself â€" in the name of Premnath, Sheela Premnath and Diksha Puri â€" on September 2, 2009. It is non in time known if these names too are fictitious. Hundreds of crores mobilised from investors was credited to the account, and then moved to yet another account in the same branch. (Details of this account and the holders could not be immediately ascertained.) From this second account money was siphoned off to wealth funds and investment companies which, in turn, invested it in the market. The investors take the CEO of a prominent packaging firm run from Noida and a member of the promoter family of a big... If you want to get a full essay, order it on our website: Ordercustompaper.com

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