Retired Army colonel duped of over 3 crore

Victim Colonel Raghujit Singh said that he even borrowed 69 lakh from his friends to pay money to the advocate

A former Army officer has been duped for over ` 3 crore on the pretext of investing in insurance policies. The Army veteran has filed a complaint with the Delhi police’s economic offences wing ( EOW) in this regard, the police said on Saturday.

Based on the complaint, a case was registered against two men on Thursday.

In his complaint, the victim, Colonel Raghujit Singh had stated that he was enticed into investing in some life insurance companies and gave ◗ an insurance agent and his accomplice approximately ` 50 lakh through various bank transfers.

Col. Singh said the insurance agent switched off his cellphone in August 2014.

In September 2017, he was contacted by a man claiming to be an advocate at the National Insurance Council who assured him he would get his lost money back.

Between October 2017 and August 2018, Col. Singh transferred around ` 2.40 crore to the advocate and his accomplices in the name of better bonuses and getting his lost money back with interest.

He claimed that he even borrowed ` 69 lakh from his friends to pay money to the advocate.

However, after September 29, their phones were switched off, Col. Singh said.

The police said they are probing the matter and trying to identify the accused persons.