Shivraj Puri, the alleged mastermind behind a major fraud in the Citibank branch in Gurgoan was arrested on Thursday. Top police officials, however, declined to give details including from where he was arrested.

Gurgaon Police Commissioner S S Deswal told reporters that duty Magistrate Raj Kumar Yadav has sent Citibank fraud accused to 7 days police custody.

Deswal said, the size of the fraud could be about 300 crore rupees. He said 40 teams have been constituted to crack the case that involved alleged siphoning off funds taken as investments from high net worth individuals into a personal account of the main suspect Puri and three of his accomplices.

Deswal said Puri’s father Raghuraj Puri is said to be owning a brokerage firm Norway Martin through which diverted funds were invested in the stock market.