Fake Insurance Officer Dupes Doctor Of ₹14 Lakh In Badnawar

Badnawar (Madhya Pradesh): A man was allegedly duped of nearly Rs 14 lakh by a fraudster posing as an area manager of an insurance company and promising high investment returns and a job opportunity.

Following a complaint by Dr Ashok Chauhan Mali, resident of Mahalaxmi Nagar in Badnawar, police registered a case against Pradeep Panchal, a resident of Mathur Colony, under relevant sections of BNS. Police said more people could be implicated during the investigation.

According to SHO Amit Singh Kushwaha, the complaint was received last month and investigated by SI Shweta Prajapat. After recording statements and examining evidence, police found prima facie evidence against the suspect and registered a case.

In his complaint, Dr Ashok stated that he had known Pradeep for nearly 10 years. Pradeep allegedly claimed to be an area manager with Bajaj Life Insurance Company and convinced him to share Aadhaar, PAN and other KYC documents in December 2023.

The complainant alleged that money was transferred into his account through different banking channels and later redirected to accounts linked to insurance agents and investment schemes on the suspect's instructions.

Believing promises of large returns and employment opportunities, the complainant transferred around Rs 14 lakh, including Rs 10 lakh borrowed from his father-in-law.

When no returns were received and the suspect allegedly stopped responding to calls, the complainant approached police. Investigation into the alleged fraud is underway.