Mumbai ex-businessman duped of Rs 2 crore over non-existent policies

MUMBAI: A septuagenarian from Bandra, who had not taken any insurance policy, was duped of Rs 2 crore by 'executives of an insurance company' who claimed that his two policies had matured and he would get Rs 14 crore on payment of fees.
The matter came to light when the 78-year-old retired businessman's daughter recently checked his bank statements and found that in the last five years, he had transferred over Rs 2 crore to 20 accounts in different banks located in five states. She then took her father to the police station.
"While his daughter said he did not have any insurance policy, the complainant does not remember about it. We have written to the insurance company to get the details," said an investigator. "The complainant had sent the money in more than 80 transactions to 20 accounts through RTGS. We have written to the banks to freeze these accounts."
Fraudsters sent pic of 2cr cheque to septuagenarian
The police team probing the case of a septuagenarian being duped of Rs 2 crore by 'executives of an insurance company' are collecting details of the holders of the bank accounts to which he transferred money and owners of the mobile numbers from which he got calls.
The 78-year-old retired businessman from Bandra told police that he received the first call in July 2017. The caller, who identified herself as an executive of the insurance firm, told him that two of his policies had matured and he would get Rs 14 crore. "She also told him that as his policies were not active, he would have to reactivate them for which he would have to pay the fees," said the officer.
The victim then transferred money to an account given by the woman 'executive'. Police said a few days later, another 'executive' called him up and asked him to send money for additional fee payment. After five to six months, another 'executive' called up the victim and told him that his colleague had passed away and he had taken over his case. The caller again took the victim's bank details promising to help him get his policy money.
The accused had also sent a photograph of Rs 2-crore cheque to the complainant, claiming that his policies were active and that he will get a refund for all the fees paid to them. The victim had transferred Rs 60 lakh to the accused in the last two months, said police.
On February 20, a first information report (FIR) was registered at the west region cyber police station of the crime branch. The accused have been booked for cheating, forgery and criminal conspiracy under the Indian Penal Code and also under the Information Technology Act.
A team, led by DCP cyber Balsingh Rajput and comprising officers Mahendra Jadhav, Mausami Patil and Vijay Ghorpade, began the probe.