Mumbai Crime: Ex-Bajaj Allianz Employee Arrested For Cheating Malad Senior Citizen Of ₹6.94 Lakh In Pension Scheme Fraud

Mumbai: The Bangur Nagar police have arrested a former employee of insurer Bajaj Allianz Finance for allegedly cheating a senior citizen of Rs 6.94 lakh under the pretext of a pension scheme.

History Of Similar Offences

Ashish Tiwari, 34, has been previously booked in three similar cases, after which the company sacked him, said the police. He targeted senior citizens and has, so far, committed frauds to the tune of more than Rs 80 lakh, they added.

The latest case was filed on September 17 based on a complaint filed by Lalita Malhotra, 69, who resides in Malad West. The septuagenarian is a tuition teacher, while her son lives abroad.

Victim Lured With Pension Promise

In December 2023, she bought a five-year policy from Bajaj Allianz Finance and paid her first installment of Rs 61,350. When Tiwari requested her to pay the second installment just a month later, Malhotra told him that she wanted to close the policy, said the FIR.

It added that he lured her into paying more money, saying that if she paid the remaining installments, she would start receiving a pension from November 2024.

Payments Made Through Google Pay

Malhotra claimed that she was even provided a letter in this regard, after which she paid a total of Rs 7.94 lakh from May 2024 to February 2025 on the Google Pay number provided by Tiwari. Her visit to the insurance office finally blew the lid off the alleged fraud.

The insurer said that Tiwari took all the money into his personal account, alleged Malhotra, adding that he just returned a small portion and duped her of Rs 6.94 lakh.

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Police Action And Investigation

A police officer said, “Tiwari lured senior citizens with a pension scheme and later diverted their money to his account. He took advantage of his position and used the same modus operandi repeatedly.” Three cases have been registered against him at the Chunabhatti, Versova and Wadala TT police stations.

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