Mumbai: Retired Woman Duped of Rs 7 Lakh in Malad by Finance Company Employee, Case Registered

A 69-year-old retired woman from Malad has alleged that she was cheated of nearly ₹7 lakh by an employee of a private finance company. The victim lodged a formal complaint at Bangur Nagar Police Station against the accused identified as Ashish Tiwari.

According to police, the complainant has been living alone in Malad for the past four decades and sustains herself by giving tuitions. In December 2023, she had purchased a policy from a private finance company and paid the first premium of ₹61,350.

In January 2024, Tiwari contacted her over phone claiming to be an employee of the same company. When the woman expressed her desire to close the policy and seek a refund, Tiwari allegedly misled her, assuring that the policy had accrued a bonus and that she would start receiving pension from November 2024 if she cleared the remaining dues.

Falling for the promise, the victim transferred ₹7,94,492 through Google Pay in multiple instalments on the basis of demand letters sent by Tiwari. Later, when she discussed the matter with her daughter, the two approached the company’s Andheri office. They discovered that while Tiwari was indeed an employee, he had not deposited the money with the company and had instead misappropriated it for personal gain.

Police said that after the complaint was filed, Tiwari appeared before investigators on 2 May 2025 and partially refunded ₹1 lakh in two transactions — ₹50,000 via Google Pay and another ₹50,000 through IMPS. He had promised to return the balance amount of ₹6.94 lakh within seven days, but later refused to repay.

The woman in her complaint alleged that Tiwari cheated her by making false assurances about closing the policy and refunding her money. The Bangur Nagar Police have registered a case and further investigation is underway.