Youngster Tricks 86-Yr Old Man, Loots Rs.6 Crore Posing as Insurance Agent: Details

The officers of the Economic Offences Wing (EOW), Delhi on Friday detained a 17-year-old school drop- out who allegedly cheated an 86-year-old man of Rs 6 crore. The minor cheated him by posing as an agent of an insurance company. 

The juvenile has allegedly transferred funds from the elderly man’s bank accounts to an account which was opened using fake documents. 

During the course of investigation, the officers found out that the minor along with his associate had set up an insurance firm using fake credentials. He then contacted the victim on the pretext of helping him. He then claimed the victim’s insurance money and convinced him to share the details of his bank accounts. Subsequently, he transferred the funds to his accounts. 

  “With the apprehension of a juvenile who posed himself as major for opening a bank account in his name, EOW @DelhiPolice busted a telephonic insurance fraud racket which cheated a senior citizen ₹ 6 cr. The gang was running call centres for Insurance companies promotional calls,” the EWO tweeted after other members of the gang were arrested.

“The teenager, who is a resident of Central Delhi, had opened a bank account in the name of Ritwik Bansal. After transferring money from the accounts of victims, he used to withdraw it from ATMs,” OP Mishra, the joint commissioner of police, EOW told the Times of India. 

“According to the investigating officers, the members of the gang had opened as many as 35 bank accounts. Investigations are underway to ascertain the number of people who have been duped by the gang so far,” Times Now reported.