Mumbai: Two held for posing as insurance agents, duping Andheri scrap dealer of Rs. 1 lakh

Representational Image. File Pic

In a significant breakthrough, MIDC police have arrested Shashikant Jadhav and Ajit Yadav in connection with a fraudulent scheme that duped a scrap dealer from Andheri out of Rs 1.34 lakh. The arrests were made following a detailed investigation initiated after the victim reported the scam.

The complainant, a scrap dealer residing in Andheri, had taken out a private insurance policy four years ago but failed to pay the premium for two years. In April, he received a call from an individual posing as a representative of the insurance company, demanding payment for the policy and a loan amount. The caller provided a bank account number for the payment, warning of potential losses if the amount wasn't paid. Trusting the caller, the victim transferred Rs 1.34 lakh to the given account. However, the payment was never reflected in his policy, and repeated calls to the number went unanswered.

Realizing he had been scammed, the scrap dealer rushed to the MIDC police station, where a case was promptly registered, and an investigation commenced. Deputy Commissioner of Police Mangesh Shinde Zone 10 instructed a team led by Senior Inspector Satish Gaikwad, including PSI Rahul Patil, Raut, and Ganesh Naik, to probe the matter.

The investigation revealed crucial information, leading the police to set up a trap in Dombivli. Jadhav was apprehended first, and during his interrogation, Yadav's involvement surfaced. Both suspects were subsequently detained and arrested yesterday. They were produced in court and remanded in police custody, while efforts were underway to locate other accomplices.

Modus Operandi and Commission

Jadhav, employed as a store manager in a private company, was introduced to Yadav a few months ago. Lured by the promise of a 5% commission, Jadhav began collecting bank accounts after work hours, providing some accounts belonging to his friends to Yadav. Fraudsters then used these accounts to receive money from unsuspecting victims. Yadav's role involved withdrawing the deposited amounts through ATMs.