Fraudulent Duo Poses as Insurance Agents at ICICI Bank in Andheri: Sold Fake Policies, Racket Exposed

ICICI Bank, Andheri East, Mumbai: In a daring scam, two former employees of ICICI Lombard were caught operating on the premises of ICICI Bank’s Andheri East branch, allegedly selling fake insurance policies to unsuspecting customers. The accused, Gaurav Shah and Komal Kadam, used counterfeit ID cards to impersonate ICICI Lombard officials, gaining access to the bank’s Mahakali Caves Road branch.

The operation came to light after an investigation triggered by an unusual complaint from one of the accused's employees. According to Mohammed Javed Khan, the branch manager, suspicious behavior was first noted when Mayank Barnwal, who was hired by the fraudsters, came forward regarding irregular salary payments and resignation. Further inquiry revealed that Shah, who had resigned from ICICI Lombard two years ago, and Kadam, who had no connection to either ICICI group, were the masterminds behind the deceit.

Between April and July 2024, Shah and Kadam posed as employees of ICICI Lombard, even conducting interviews and providing fake offer letters to Barnwal and Sayali Jadhav. The duo conducted training for the fake employees at various locations in Mumbai, using false credentials and creating a WhatsApp group for company updates. Their fraudulent activities were supported by fake trips to Shimla and Manali in November 2024, claimed as perks of employment.

Evidence from CCTV footage and digital payments corroborated the illicit activities. The fraudsters also hired Barnwal and Jadhav, paying them Rs 18,000 per month through PhonePe and Google Pay. The investigation is ongoing, with the police checking if any customers were sold fake insurance policies.

ICICI Bank’s branch manager, Mohammed Javed Khan, confirmed the breach of trust and stated that the bank is fully cooperating with authorities to bring the perpetrators to justice. Senior Police Inspector Rajiv Chavan of MIDC Police Station has assured swift action against the culprits.