Five persons have been arrested for allegedly duping 184 people of ₹1.4 crore on the pretext of providing them better returns on their insurance policy, the police said on Saturday.
DCP (South-West) Milind Mahadeo Dumbere said that the accused have been identified as Nishant Khan (32), Mohd Javed (38), Rahees Malik (26), Vasu Kumar (27), and Rahul Sharma (23).
The police said that the accused used to call their targets from numbers registered on fake IDs. “The accused convinced people that more than 50% of their policy money is going to the agents and assured them of more returns,” said Mr. Dumbere. The victims were asked to pay three premiums of their policy in bank accounts, details of which were provided by the accused.
₹45,000 recovered
The police said that the accused were using five accounts in different banks and ₹1,40,05,573 were deposited in them in two years. They have recovered ₹45,000 from the accounts.
The kingpin of the gang is still at large, they said.
