Wealthy investors of foreign lender, Standard Chartered Bank have alleged that the bank has duped them in rogue ways. The allegations say the bank had sold debt securities to the high net worth (HNI) clients, with a promise to buyback the securities after a stipulated time, which it did not.

Recently, another foreign lender, Citibank was also tangled in a scam involving huge amount of money from big ticket investors.

In case of StanChart, the investors had mainly dropped in money in the securities by getting attracted to the buyback option. The products included debentures of real estate firms and also of a Delhi based education company. The issue started when the investors wanted to sell their papers to the bank again.

"We are investigating a small matter involving four customer accounts and are in the process of resolving it. We can assure you that your guesstimate on the amount involved is a gross exaggeration-as indicated, the matter involves just four clients. For reasons of client confidentiality, it will be inappropriate to comment any further," said a spokesperson.