Indian police said Wednesday they were investigating Citibank staff in Gurgaon, a booming satellite city outside New Delhi, over a multi-million-dollar scam targeting wealthy clients. Employees at the bank in Gurgaon, where many international companies are based, allegedly forged letters to sell a fake investment scheme to about 40 wealthy clients, the Economic Times newspaper reported.
Nearly 4 billion rupees (88 million dollars) was handed over, according to the paper. The alleged fraud came to light earlier this month when one of the clients mentioned the scheme to a senior bank manager. Police confirmed the probe but gave no further details. Citibank said in a statement that it was inspecting suspicious transactions.