New Delhi, July 31 -- A serious financial fraud complaint was lodged at Lahori Gate Police Station, exposing an alleged multi-crore scam involving a major national bank and its associated insurance partner. The complaint was filed by Vijender Bansal, a long-standing account holder, who claims to have been defrauded of a substantial amount through misleading insurance schemes.

According to the complaint, the bank officials persuaded Bansal to invest nearly Rs.5 crore over time in various insurance policies, promising high returns, reportedly double or triple the premium amounts, at the time of maturity.

However, as the maturity dates approached, Bansal discovered that instead of transferring the funds to the insurance company, the bank h...