Ex-Insurer Employee Caught in Rs 24 Lakh Loan Scam

In a significant bust, authorities have apprehended a former employee of a private insurance firm, Imran Khan, and his associate, Pulkit Sharma, in Panipat, Haryana. They are accused of orchestrating a sophisticated online loan fraud that siphoned Rs 24 lakh from the company.

Khan allegedly visited policyholders' homes, illicitly obtained OTPs from their mobile phones, and manipulated the company's system. Bank details and registered phone numbers were altered to reroute loan funds to mule accounts, investigators revealed. The fraud came to light in September 2025 when a Gurugram policyholder reported an unauthorized loan.

An internal investigation pinpointed Khan and another employee, Anjali Rani, who visited the complainant's residence between July 26 and 28, 2025. They allegedly advised the customer to switch policies and took his phone, using the opportunity to compromise his account. Fifteen fraudulent loans were identified as being processed through similar deceptive means.

Khan and Rani, who had brief tenures at the company's Gurugram office, changed customer phone numbers and bank account details in the system. They manipulated the verification process by convincing the company of the legitimacy of the altered accounts, leading to funds being disbursed to mule accounts.

The West Cyber Police in Mumbai registered an FIR and have seized three mobile phones, six cheque books, and two passbooks from the arrested individuals. While Rani is still at large, Sharma was apprehended for allegedly facilitating the mule accounts. The investigation is ongoing.