Surat Homemaker Defrauded of Rs 11.03 Lakh in Sophisticated Insurance Scam
In a distressing case of financial fraud, a 62-year-old homemaker from Surat's Adajan area has been cheated of Rs 11.03 lakh in an elaborate insurance policy scam. The perpetrators posed as officials from non-existent regulatory bodies, exploiting the victim's trust over an extended period.
How the Insurance Fraud Unfolded
The victim had purchased a Bharti AXA Life Insurance policy in 2018 with a 10-year term, paying a monthly premium of Rs 10,943. The trouble began in 2021 when she received a call from an individual identifying himself as Sumit Bansal, who claimed to be calling from the Bima Lokpal Office in Delhi.
Bansal demonstrated detailed knowledge of her Bharti AXA policy and informed her she was eligible for a substantial bonus of Rs 1.75 lakh. To receive this bonus, he insisted she needed to purchase eight additional policies under a single-premium scheme. The woman agreed after receiving printed copies of these policies delivered to her residence.
Escalation of the Fraudulent Scheme
When the promised bonus failed to materialize, the victim grew suspicious and approached the Insurance Regulatory and Development Authority (IRDA). Following her complaint, she managed to secure refunds for only three of the additional policies.
The situation escalated on February 26 when she received another call, this time from Alok Mishra, who claimed to represent the Executive Council of Insurance in Hyderabad. Mishra requested copies of the five remaining policies along with her bank details via WhatsApp to process refunds.
Subsequently, Mishra and another individual named Mohan Rathod demanded various charges to release the refunds. Between March 3 and April 2, the victim transferred a total of Rs 11.03 lakh across 11 separate transactions to the fraudsters.
The Final Deception and Police Intervention
In a final act of deception, the accused sent the woman a cheque for Rs 17.60 lakh accompanied by a letter on the official-looking letterhead of the Executive Council of Insurers. When she attempted to deposit this cheque, it was returned unpaid.
All attempts to contact the callers proved futile as their phones remained switched off. Realizing the extent of the fraud, the victim contacted the Cybercrime helpline number 1930. The Surat Cyber Crime police have registered a formal FIR against five individuals and launched a comprehensive investigation into the case.
Key Details of the Insurance Fraud Case
- Victim: 62-year-old homemaker from Adajan, Surat
- Total Amount Lost: Rs 11.03 lakh
- Original Policy: Bharti AXA Life Insurance (10-year term, purchased 2018)
- Primary Accused: Sumit Bansal, Alok Mishra, Mohan Rathod
- Fictitious Organizations Used: Bima Lokpal Office, Executive Council of Insurance
- Police Action: FIR registered, investigation ongoing
This case highlights the sophisticated methods employed by financial fraudsters who exploit regulatory terminology and official-sounding organizations to deceive victims. Authorities urge citizens to verify the credentials of anyone claiming to represent insurance regulatory bodies before sharing personal information or making payments.
