Gurugram Man Loses Rs 1.19 Crore After Fraudsters Pose As Insurance Officials

A Gurugram man allegedly lost around Rs 1.19 crore after fraudsters posing as insurance ombudsman officials promised to help him recover money from his lapsed insurance policies, according to the police.

The fraudsters allegedly told the man that they could help him recover around Rs 57 lakh from his lapsed policies and promised that he would ultimately receive around Rs 1.04 crore. They allegedly said the payout could be facilitated by transferring the beneficiary code after terminating the agent code linked to the policies.

The police have arrested four people arrested in connection with the fraud. They were identified as Bharat Janak Singh, Mohammad Moshirul Haque, Subhash Kumar and Sahil Gusain.

How The Insurance Scam Worked

According to a PTI report, the fraudsters allegedly demanded payments on different pretexts, including file charges, maintenance charges, transaction charges and Full and Final (F&F) settlement fees. Believing their claims, the victim transferred around Rs 1.19 crore to different bank accounts through multiple transactions.

The victim reported the alleged fraud at the Cyber Crime West police station in Gurugram on July 27, 2026. During the investigation, police found that around Rs 43 lakh of the victim’s money had been transferred to a bank account allegedly opened using forged Aadhaar and Permanent Account Number (PAN) cards in the name of Utsav Upadhyay.

ACP (Cyber) Gaurav Fogat said Mohammad Moshirul Haque allegedly arranged the account with the help of his associates. Another accused, Bharat Janak Singh Kapadia, allegedly withdrew the money through cheques and handed over the cash to people identified by his associates after retaining commissions.

Fake Documents And SIM Cards

Police alleged that Subhash Kumar, who runs a cyber cafe, prepared fake Aadhaar and PAN cards. Sahil Gusain allegedly helped prepare forged documents, procure SIM cards and supply the SIM cards allegedly used to make fraudulent calls.

The accused were produced before a city court, which remanded them to two days of police custody. Further investigation is underway.

How To Stay Safe From Insurance Scams

Policyholders should be aware of callers claiming to be insurance officials who promise large payouts or recovery of money from lapsed policies. They should also avoid making payments to unknown bank accounts or sharing sensitive documents and financial details with unverified callers. Before making any payment, they should also verify the claim and the identity of the person from the insurer’s official channels.