# Scammed Out of Rs 39 Lakh: Insurance Manager and the Education Loan Fraud
Through over 70 transactions, the victim was cheated out of a whopping Rs 39 lakhs.
An insurance manager at a general insurance company based in Tamil Nadu’s Kancheepuram fell for an education loan scam, losing Rs 39 lakh in the process.
This Delhi-born victim lodged a complaint with the Rohini Cyber Police Station, detailing her encounter with a group of individuals portraying to be representatives of a loan lending company. The victim was searching for an education loan online when she came across and entered her details on Sulekha.com. Soon after, she received a call from a man called Nakul, who claimed to be a loan broker handling loans from a company named “RS Enterprises.”
Nakul, along with others pretending to be the company’s owner and accountant, tricked the victim with fake documents and communication. On multiple occasions, the scammers asked for money for purposes such as application fees, approval fees, verification charges, advanced EMIs, or NPCI approval.
The victim paid the demanded amounts, believing it was part of the process to get her loan. When she figured out that she was a victim of fraud and asked for a refund, she was denied as the scammers claimed the fees were non-refundable.
Ignoring the red flags, the victim continued to pay in hopes of eventually receiving her loan. In total, she made over 70 transactions amassing Rs 39 lakhs, before realizing it was all a hoax.
Following her complaint, the Delhi Police booked an FIR under Section 420 of the Indian Penal Code (IPC) at Rohini Cyber Police Station. Further investigations to trace the fraudsters and recover the victim’s money are in progress.
Stay tuned for more updates in this story.
(This news story, except for the headline, hasn’t been altered by NDTV staff and is sourced from a syndicated feed.)
### Frequently Asked Questions
#### What was the scam the insurance manager fell for?
The insurance manager fell for an elaborate education loan scam. She was contacted by individuals posing as representatives of a loan lending company called “RS Enterprises.” They duped her into paying various fees to secure her loan. At the end, she lost Rs 39 lakh but never received the loan.
#### How were the scammers able to trick the manager?
The scammers created an illusion of legitimacy by producing fake documents and claiming to represent a loan lending company. They gained her trust and then started asking for various fees. By the time the manager suspected foul play, she had already lost a significant amount of money.
#### What actions have been taken since the scam was reported?
An FIR was lodged under Section 420 of the Indian Penal Code (IPC) at Rohini Cyber Police Station in Delhi after the scam was reported. An investigation is currently underway to track down the culprits and recover the money stolen from the insurance manager.
