Hero Group exposure to Citi fraud 287.5 mln rupee

Newswire

MUMBAI, Dec 31 (Reuters) - India's Hero Group said on Friday its exposure in the alleged financial fraud unearthed at Citigroup's Gurgaon branch in Haryana state was 287.5 million rupees and that it was taking action to recover its dues. On Dec 28, US-based Citigroup had said it was investigating a set of suspicious transactions based on what it said were forged documents by an employee at a branch in India. A person familiar with the matter had said the transactions may involve between ...

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