Indian Citibank 'fraudster' arrested Published duration 30 December 2010

image caption The alleged $20m fraud came to light earlier this month

Police in India have arrested a Citibank employee accused of defrauding clients out of millions of dollars.

Shivraj Puri, 32, who is expected to appear in court later, told an Indian newspaper he was innocent.

The alleged fraud was discovered earlier this month in a branch of the global bank in Gurgaon, a wealthy suburb of Delhi.

The bank has said duped investors were promised quick, high returns from a bogus financial scheme.

It is alleged that Mr Puri funnelled the money into accounts controlled by three relatives.

'Truth will out'

Mr Puri reportedly handed himself in on Thursday, a day after police said he was wanted for questioning.

The accused told the Times of India newspaper after his arrest: "I have already given full details to the police. I have full faith in the judiciary. Truth will come out."

The alleged fraud came to light earlier this month when a client mentioned the scheme to a senior bank manager.

Citibank has not publicly put a figure on the sums involved, but investigators have said at least $20m (£13m) was stolen.