Financial scam complaint lodged against national bank, insurance company, EOW to probe

New Delhi [India], July 31 (ANI): A serious financial fraud complaint was lodged at Lahori Gate Police Station, exposing an alleged multi-crore scam involving a major national bank and its associated insurance partner. The complaint was filed by Vijender Bansal, a long-standing account holder, who claims to have been defrauded of a substantial amount through misleading insurance schemes.
According to the complaint, the bank officials persuaded Bansal to invest nearly ₹5 crore over time in various insurance policies, promising high returns, reportedly double or triple the premium amounts, at the time of maturity.
However, as the maturity dates approached, Bansal discovered that instead of transferring the funds to the insurance company, the bank had allegedly diverted the money to its own internal accounts. This raised serious concerns of misappropriation and collusion between the bank and the insurance entity.
Complainant further alleged that forged documents were created to facilitate the fraud, ultimately leading to a total misappropriation of nearly ₹20 crore from his accounts.
The scale of the alleged fraud has sparked concerns that similar instances across the country may have resulted in losses worth hundreds or even thousands of crores.
Recognising the gravity of the allegations, the police, after an initial assessment, transferred the case to the Economic Offences Wing (EOW) on 17th July 2025 for a more detailed investigation. EOW, known for handling complex financial crime cases, is expected to conduct an in-depth probe into the matter.
In parallel with the police complaint, Bansal, through his legal counsel, has also initiated legal proceedings against both the bank and its insurance partner, seeking judicial intervention and accountability for the alleged fraud. (ANI)