Relationship manager visits home, obtains OTP on pretext of KYC; swindles man of Rs 12 lakh
Asan Balani, who was cheated out of lakhs. Pic/Navneet Barhate
The Thane police have booked the branch manager, a relationship manager and an employee of an insurance company for swindling a policyholder of Rs 12 lakh on the pretext of updating his KYC (Know Your Customer) details. The accused allegedly caused a loss of Rs 46.61 lakh in total to the policyholder. Asan Balani, a 47-year-old hospitality professional, and his wife bought a policy on behalf of their child in 2010. The yearly premium of the policy is Rs 1 lakh and it was to mature in 2030, yielding Rs 46.61 lakh in returns. As the child had turned 18 recently, the policy had been transferred to the youngster.
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In March 2022, the relationship manager, Meenu Jha, visited Balani’s residence and took a photo of his wife on the pretext of updating KYC details. She also asked her to reveal an OTP, claiming it was required in order to update her mobile number. On learning about this, Balani called Jha and questioned her. The accused not only allegedly lied to him but also asked him to cancel his policy—claiming it was no longer beneficial—and to buy a new one, which Balani refused to do.
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A few days later, Balani was shocked to discover that the policyholder’s name had been changed to Meenu Jha. The mobile number linked to the policy had also been allegedly switched by the accused. When Balani complained to the company, he learned that his policy had been cancelled and the R12 lakh paid by him since 2010 had been transferred to two different policyholders.
“Jha, with the help of branch manager Satish Soni and employee Santosh Tolani, allegedly changed the mobile number in the system and used forged documents to change the policyholder’s name. After this, the premium was claimed and two new policies were purchased by Jha in the name of Tolani,” said an official from the Central police station.
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Jha purchased two policies with a yearly premium of Rs 4 lakh each. Also, Satish Soni earned 20 per cent above the policy as a commission. When Balani came to know he had been duped by his own relationship manager, he rushed to the Central police station and filed a complaint.
“We have booked three people under sections 419 (cheating by personation), 420 (cheating), 465 (forgery), 468 (forgery for the purpose of cheating), 471 (using forged document as genuine) and 120B (criminal conspiracy) of the IPC along with sections of the IT Act,” said Madhukar Kad, senior inspector of Central police station. “We are yet to arrest the accused,” he added.
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