Sanjay Gupta, a top official of the Hero Group arrested in the Rs.300 crore Citibank fraud case, was Saturday sent to seven days’ police custody by a local court.
Police, while seeking an extension in his remand, told the court that they wanted to question him to recover Rs.4 crore. They said they also wanted to trace his investments in property.
Gupta was arrested Monday for his alleged connivance in defrauding Citibank customers, including his own company, of an estimated Rs.300 crore. The court earlier sent him to five days’ police remand.
According to police, Gupta, the chief financial officer of Hero Corporate Services Ltd (HCSL), used to lure corporates into depositing money in fraud mastermind Shivraj Puri’s scheme.