Hero Corporate Group's senior official Sanjay Gupta was today arrested and remanded in five-day police custody in connection with the Citibank fraud case .He allegedly invested about 250 crore rupees belonging to promoters of the group companies. Gurgaon Police Commissioner S S Deswal told reporters ,Gupta had formed two finance companies — BG Finance and G2S, and took commission of 20 crore rupees from Shivraj Puri for investing the amount. police had last week called Gupta for questioning along with, the main accused in the estimated 300 crore rupee fraud discovered at the Citibank's Gurgaon branch.Shivraj Puri, the Relationship Manager employed with Citibank's Gurgaon branch, used to sell investment products by showing a forged letter of the market regulator SEBI with a claim that they would generate very high return of 18 per cent. He was arrested last week and sent to police custody for a week.Mr. Deswal had earlier said that a major chunk of the money has gone into brokerage firms , Religare and Bonanza, whose officials were also called for questioning.