In a major crackdown on financial fraud, Noida police arrested 11 individuals, including Vikram Singh, for allegedly running a fake loan and insurance scam worth Rs8 crore from a bogus call centre in Sector 16. The gang reportedly duped thousands of victims over the past three years.
Acting on a tip-off, police raided the call centre on Monday and apprehended key members of the operation. The arrested suspects include:
Vikram Singh (Gang Leader)
Aman Kumar
Keshav Kumar Jha
Arman Chaudhary (all from Ghaziabad)
Mohit Kumar, Firoz Khan, Rahul Kumar, Akshay Mishra, Pankaj Singh (all from Delhi)
Rahul Singh (Agra)
Divya Singh (Noida)
The call centre director, Gaurav Joshi, and his wife Neha, are currently absconding.
The gang purchased personal data from local vendors and cold-called individuals, offering zero-interest loans ranging from Rs3 lakh to Rs30 lakh. Once a victim showed interest, they were told that the loan needed to be insured.
In reality, the suspects sold them genuine insurance policies from four reputed firms—earning a 40–50% commission per policy worth Rs50,000 to Rs3 lakh.
“They disguised the insurance sale as a loan security step and convinced victims to buy policies under the pretense of securing their loan,” said Deputy Commissioner of Police Yamuna Prasad.
The scam’s turnover is estimated at Rs8 crore, with data of over 1 lakh potential victims recovered in both physical and digital formats. Police believe the gang defrauded victims across India using this method.
The suspects have been booked under relevant sections of the IPC and IT Act, and further investigation is underway to track down remaining members and identify more victims.
