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.