📷 Image: Wikimedia Commons / Abasaa
Crime
Two Ghaziabad Men Arrested in Indore for ₹1.25 crore Insurance Scam
✍️ Amar Ujala · Madhya Pradesh
🗓 10 Nov 2026, 06:31 PM
👁 14
Palasia police in Indore have detained two suspects from Ghaziabad for allegedly duping a victim of more than ₹1.25 crore by promising to double insurance and investment returns between 2014 and 2024.
The Palasia police station in Indore announced the arrest of two individuals who travelled from Ghaziabad to the city. Both men were taken into custody after a detailed investigation linked them to a multi‑year financial fraud that allegedly cost a single victim over ₹1.25 crore.
According to the police, the suspects approached the victim in 2014, offering to double the returns on existing insurance policies and other investments. Over a ten‑year period they repeatedly collected payments, assuring the victim that the promised profits would be credited once the schemes matured. The promised payouts never materialised, and the victim eventually reported the loss.
Investigators said the fraud relied on forged documents and false promises of guaranteed returns, a common tactic in financial scams. The two accused have been charged under sections relating to cheating and fraud, and further interrogation is underway to identify any additional victims or accomplices.
Police officials have urged the public to exercise caution when approached with investment offers that guarantee unusually high returns, especially when the proposer is not a licensed financial advisor or insurer.
According to the police, the suspects approached the victim in 2014, offering to double the returns on existing insurance policies and other investments. Over a ten‑year period they repeatedly collected payments, assuring the victim that the promised profits would be credited once the schemes matured. The promised payouts never materialised, and the victim eventually reported the loss.
Investigators said the fraud relied on forged documents and false promises of guaranteed returns, a common tactic in financial scams. The two accused have been charged under sections relating to cheating and fraud, and further interrogation is underway to identify any additional victims or accomplices.
Police officials have urged the public to exercise caution when approached with investment offers that guarantee unusually high returns, especially when the proposer is not a licensed financial advisor or insurer.