Maharashtra: 49-year-old man loses Rs 2.24 crore to insurance fraud

In the Raigad district of Maharashtra, a 49-year-old man allegedly lost Rs 2.24 crore due to insurance fraud, according to an official.  The Kamothe, close to Mumbai, man complained to the police that he lost the money during a three-year period.

The man, whose occupation was recorded as service by the police, allegedly received a call before August 2020 from a person who claimed to be from insurance regulator IRDAI's Integrated Grievance Management System, earlier known as IGMS.

The caller promised to get the complainant Rs 58 lakh by facilitating the premature closure of his insurance policy, the official said citing the first information report (FIR). Between August 2020 and July 31, the fraudster smooth-talked the complainant to shell out nearly Rs 2.24 crore under the pretext of several procedural fees and taxes, the official said.

However, when the caller started giving evasive replies to the complainant's repeated demands for the promised Rs 58 lakh against his policy, the latter realised he had been cheated. He filed a police complaint on Tuesday, he said. The Kamothe police have registered a case under Section 420 (cheating) of the Indian Penal Code and the Information Technology Act, he said, adding that no one has been arrested yet.