Police in India have arrested a Citi Bank employee accused of cheating clients out of millions of dollars.
Peree, 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 Gergawan, a wealthy suburb of Delhi. The bank has said investors were promised quick, high returns from a bogus financial scheme. It is alleged that Mr. Peree transferred the money into accounts controlled by three relatives. Mr. Peree reportedly handed himself in on Thursday, a day after police said he was wanted for questioning. The alleged fraud came to light earlier this month when a client mentioned the scheme to a senior bank manager. Question 1.Why was the bank employee arrested?