Gurgaon police today arrested Shivaraj Puri, the alleged mastermind behind the sensational Rs 300 Cr fraud that took place in the Gurgaon branch of the City Bank.

Police Commissioner S S Deswal told media persons in Delhi that Puri was produced in a special court which sent him to 7 days police custody.

It is said that Mr Puri, working as the Relationship Manager in the Gurgaon branch of the City Bank, duped High Networth Individuals (HNIs) to the tune of Rs. 300 Cr with an unusual promise of 18 per cent interest and diverted the funds to his personal account and also to the accounts of his family members.