A person loses Rs.32 crores. Of how much. It is something a common Indian say a rickshaw wala sleeping on his rickshaw in this cold cold weather cannot even calculate how much money it is. It is a shame. Democracy...my foot
Re: Wow....
by dhiviya mukuth on Jan 07, 2011 04:53 AM
Something is seriously wrong. Your's is a classical case clueless frustration. U want rickshaw walas to invest in crores and if not u blame democracy for their plight.
Re: He was a Daksh CEO
by mmmanish on Jan 07, 2011 07:07 PM
You can't even dream of what he actually did! He created Business out of a nascent idea and created opportunity for himself as well as many people who are employed there. One should accord respect to such people as people like him are wealth creators.
Re: He was a Daksh CEO
by wizardo id on Jan 07, 2011 07:39 AM
"minted money" why is it negative ? someone builds a company and profits from it. why is it so bad ? its not like he made by smuggling like dawood
Re: where is the source of money
by wizardo id on Jan 07, 2011 07:40 AM
so you wake up one day with someone having a lot of money in "white". any money in the bank is white you idiot. how do you think he will dodge the IT dept. if it were cold hard cash you could comment on it. what an idiot
Re: where is the source of money
by prem k on Jan 07, 2011 01:47 AM
You must be an IT officer. You dont question a Karunanidhi who did not have money to buy idlis in a railway station 40 years back but now declares his assets at Rs. 80 Cr while filing his election nomination (which does not even include the assets of his three wives, several legal and illegal children and other benaami assets), you want to question an ordinary citizen who says that he lost Rs 32 Cr in a bank fraud. You dont question Mayavati, Mulayam Sing Yadav, Lalu Persaud Yadav, Jagan Mohan Reddy, Sonia Gandhi, Advani and hundreds of other politicians in India that have assets in crore while they had been doing nothing but holding only public offices all their lives, but you want to question everyone else.
You dont care if a politican loots the country, but your morals suddenly improve when your neighbor becomes prosperous. Welcome to the Indian mindset!!!
Its not only poor internal process control at Citi end but its also the fault of investors if they have lost any money.
Its difficult to beleive that people like Sanjeev Aggarwal who is supposed to be highly aware and well versed with banking operations, products and process.He is creating a noise on his own fault/greed.
Re: Citi Rajeev
by wizardo id on Jan 07, 2011 07:43 AM
he's clearly said that he wasnt after any particular scheme. its like when you signup for wealth management, they undertake managing your entire wealth, and that's automatically supposed to mean through legal means . can't this hapless victim sue the bank for fraud committed?
Re: Re: Citi Rajeev
by Ajay Jha on Jan 07, 2011 10:32 AM
Was he not receiving any SMS/alerts or statements.If he was not receiving any alerts or SMS than he should have complaints earlier.
Also why he was not tracking his investment through bank portal.
Its a fault of citi bank as well as negligence of educated customer like Rajeev.
I always heard bad things about Citi bank. How they fraud you to get money in terms of monthly charges, even from salary accounts, how they add hidden features to any personal loan/credit card usage etc. and charge for it etc. Better to stick to SBI/HDFC etc IMO
Re: Citi
by Shantanu Kumar on Jan 07, 2011 01:12 AM
actually, I had the same issue. I have an international account with them. One day, I noticed that 180K dollars were gone. No transaction was shown. It took me a case to ombudsman and court to get the money back.
While I don't think Vikram Pandit would have personally benefited from the transaction, the culture at lower levels in quite different and fraud is more widely prevalent than you would expect. Leadership needs to take some blame for that.
Both Citi and Agarwal are corrupt and characterless persons and are lieing. Both are involved in manipulations and number two deals. Will Agarawal answer these questions.
1. He paid money to Puri. Ok. Did he receive any statemnt from Citi Bank. 2. Did he receive any devidend on investment. 3. Did he receive and portfolio statemnt. 4. Did he withdraw any moey , if yes, how. 4. What communication he received from CITI Bank regarding his deposits during his association with Citi Bank.
Puri is a frontman. It is racket run by Citi Bank where agarwal is a key participant and nothing else. Nowall efirts are made to save CITI Bank.
Did Agarwal invest with citi Bank only or other Banks also.
He should answer these questions. Agarwals firm should be raided by SEBI and enforcement directorate. All these are white collored terrorists and should br punished.
Re: Both are corrupt and characterless
by wizardo id on Jan 07, 2011 07:47 AM
ha! you deduced all of this from thin air ? none of details you assume were given by agarwal. so where did you pull out all those stats / assumptions from ?
Re: Both are corrupt and characterless
by Remani Kumar on Jan 07, 2011 04:35 AM
How do you know Mr. Agarwal is corrupt? Just because he invested 32 crores? Rs 32 crores translates into roughly 9 million us$s, which is peanuts for several Desi business people and doctors living / earned in US.
Growup !!! If you read the complete story from a week ago, Agarwal did receive statements from Citi bank signed by Puri showing higher returns.
This guy himself runs a wealth management company and got fooled by someone who promised him 2% per month returns!! Wonder what kind of service he could provide to his customers!!
In my view, if something goes wrong inside a premises and the premises owner has given that particular place or seat to a authorised person, then the Premises owner i.e. Citibank Management is fully responsible for the system failure. For what "Job profile" the VP and CEO are getting the salary. In my view, their first job is to supervise juniors and if they fail in doing this, they are equily responsible. Hence the Citibank is fully responsible for this and they need to payback every single penny to investors, with interest.
