Retired Commissioner and Teacher Fall Prey to ₹1.94 Crore Trading and Policy Claim Scam

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A Sophisticated Cyber Scam Targets Retiree and Teacher, Resulting in ₹1.94 Crore Loss

A retired commissioner and a school teacher have fallen prey to a cunning cyber scam, collectively losing ₹1.94 crore. The perpetrators employed a combination of social engineering tactics and false promises of lucrative investments and insurance policy payouts to deceive their victims.

Teacher Loses ₹1,67,50,000 in Investment Scam

In the first incident, a teacher from the Chinhat area was contacted in November 2025 with an offer to invest in a scheme promising unusually high returns. The scammers, posing as representatives of an investment company called Naka Solutions Private Limited, convinced the teacher to transfer funds into various bank accounts over several months. Between November 10, 2025, and February 24, 2026, the teacher transferred a total of ₹1,67,50,000 in 18 instalments.

Retired Commissioner Loses ₹26,43,407 in Insurance Scam

In a separate incident, a retired commissioner from the Central Excise and Customs Department was targeted by scammers posing as officials from Max Life Insurance. The perpetrators claimed that the maturity amount of the commissioner’s multiple policies was approximately ₹1.30 crore and demanded payment of stamp duty, service charges, and processing fees to complete the claim process. The commissioner’s family was cheated out of ₹26,43,407 in multiple transactions.

According to cyber police officials, the scammers used sophisticated social engineering techniques to gain the trust of their victims before initiating financial transactions. The perpetrators maintained continuous communication with the victims, leaving them unaware of the actual situation.

Investigation and Warning to Citizens

The cyber police have launched an investigation into the scam, examining bank accounts and digital transaction records. Authorities have warned citizens not to share sensitive banking details with unknown individuals and to verify investment offers or policy-related claims directly through authorized company portals or official channels.

The scammers’ modus operandi typically involves using fake companies and fabricated identities, immediately transferring funds across multiple accounts to make financial tracking difficult. The investigation is ongoing, and authorities are working to track down the perpetrators and bring them to justice.