Mumbai: Falling for a seemingly attractive offer where he was to receive a Rs 10-crore loan at a low rate of interest, a senior citizen ended up losing more than Rs 1.1 crore from his savings instead.
Cyber police said the elaborate fraud unfolded over one year with the complainant carrying out 68 payment transactions. An FIR was registered on Monday after the 70-year-old Andheri resident filed a complaint.
Police said the fraud began on Oct 28, 2023, when the complainant received a call from one Anil Yadav, who identified himself as an executive with a financial institution in Delhi. Yadav convinced the complainant to take a low-interest Rs 10-crore loan that could be availed on purchase of a health insurance policy.
Later, a woman, who identified herself only as Tiwari, called up the complainant and asked him to pay Rs 5 lakh for the policy. The complainant said he made the payment online.
He was in touch with Yadav over the phone, but was given no clarity on when his loan would be disbursed.
In May 2024, one Mayank Gupta, who claimed that he worked in the Bengaluru branch of the financial institution, called up the complainant. Gupta told the senior citizen that if he took the loan from the Bengaluru branch, he would have to pay only a 10% commission as against the 20% payable to the Delhi branch. When the senior citizen asked Gupta when the loan would be disbursed, he was told that his file had errors and he would have to pay money to rectify it. The complainant complied.
A few days later, ‘Gupta’s superior’ sent, via phone, a few ‘official documents’, including a return demand draft memo, bank final settlement charges and bank NOC and payment confirmation report, which convinced the complainant that his loan was being processed.
The complainant told police he was also introduced, over the phone, to the ‘general manager’ of the financial institution who assured him that the loan disbursement would happen soon.
Under various pretexts, the scammers got the complainant to pay a total Rs 1.14 crore in 68 transactions. But when he did not receive the Rs 10-crore loan even months later, he realised he had been taken for a ride and approached the police.
Mumbai: Falling for a seemingly attractive offer where he was to receive a Rs 10-crore loan at a low rate of interest, a senior citizen ended up losing more than Rs 1.1 crore from his savings instead.
Cyber police said the elaborate fraud unfolded over one year with the complainant carrying out 68 payment transactions. An FIR was registered on Monday after the 70-year-old Andheri resident filed a complaint.
Police said the fraud began on Oct 28, 2023, when the complainant received a call from one Anil Yadav, who identified himself as an executive with a financial institution in Delhi. Yadav convinced the complainant to take a low-interest Rs 10-crore loan that could be availed on purchase of a health insurance policy.
Later, a woman, who identified herself only as Tiwari, called up the complainant and asked him to pay Rs 5 lakh for the policy. The complainant said he made the payment online.
He was in touch with Yadav over the phone, but was given no clarity on when his loan would be disbursed.
In May 2024, one Mayank Gupta, who claimed that he worked in the Bengaluru branch of the financial institution, called up the complainant. Gupta told the senior citizen that if he took the loan from the Bengaluru branch, he would have to pay only a 10% commission as against the 20% payable to the Delhi branch. When the senior citizen asked Gupta when the loan would be disbursed, he was told that his file had errors and he would have to pay money to rectify it. The complainant complied.
A few days later, ‘Gupta’s superior’ sent, via phone, a few ‘official documents’, including a return demand draft memo, bank final settlement charges and bank NOC and payment confirmation report, which convinced the complainant that his loan was being processed.
The complainant told police he was also introduced, over the phone, to the ‘general manager’ of the financial institution who assured him that the loan disbursement would happen soon.
Under various pretexts, the scammers got the complainant to pay a total Rs 1.14 crore in 68 transactions. But when he did not receive the Rs 10-crore loan even months later, he realised he had been taken for a ride and approached the police.