The multicrore fixed deposit scam unleashed in Citibank has made many key departments and regulators enter deeply into the matter. Recently officers from Securities and Exchange Board of India (SEBI) have started their probe on the motive behind the scam.

The Income Tax (I-T) department is also likely to conduct a probe on the scheme to see if there was any entry of black money in the entire plot headed by kingpin Shivraj Puri.

"The department may look into the matter to find out if unaccounted money was routed to the stock market or elsewhere with the help of the accused," sources said.

The department is though yet to start its probe and currently covers only investment made by around 20 firms and 24 high net worth individuals (HNIs).

The entities whose funds were diverted by Puri into the accounts of his relatives include Hero Corporate Services (Rs 13.75 crore), OKS Sapan Tech (Rs 2 crore) and Satyam Auto (Rs 25 crore).

Furthermore, Mayar Infratech (Rs 24 crore), Spaid (Rs 62 crore), Karopat Pad (Rs 8 crore), Sunil Kant and Sons (Rs 3 crore), Aero Infratec (Rs 25 crore), Hero Exports (Rs 97 crore), Rekha Munjal (Rs 5 crore), Munjal Investments (Rs 2.5 crore) and Munab Braej (Rs 71 crore) fell prey to the scam.