Gang selling fake insurance policies busted in Delhi, 2 arrested

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With the arrest of two men, Delhi police have busted a fake insurance racket allegedly involved in tricking people into making huge refunds on bogus insurance policies.

The accused used to dupe victims in the name of bogus insurance policies. (Photo: Representative)

STRONG POINTS

  • Delhi police have busted a fake insurance racket
  • The accused used to trick people in the name of huge policy refunds
  • Two men have been arrested in connection with the case

Delhi police busted a fake insurance racket and arrested two gang members who were allegedly involved in the deception under the guise of providing insurance policies from different companies. The accused used to deceive people in the name of huge policy refunds.

The police also recovered 2 mobile phones, 3 SIM cards and Rs 60,000 in the possession of the accused.

The matter came to light when a complainant approached the police, alleging that he filed an email complaint against two insurance policies from Bharti Axa Life insurance company in March 2021. By Subsequently, he received a call from a man named Vikas Srivastava who presented himself as an IRDAI grievance and assured him that the amount of the insurance policy would be refunded to him within a week.

Believing him, the victim allegedly transferred Rs 2,75,484 on behalf of CA charges. Later, the complainant realized that he had been duped.

On the basis of the complaint lodged by the victim, a file was registered and an investigation was opened on this subject.

FAKE INSURANCE RACKET BUSTED

During the investigation, the details of the alleged bank accounts were obtained and it was found that the bank account was operated in the name of Prince Yadav. It was discovered that several transactions had been initiated in two other bank accounts, of Rahul Pal and an Ashu.

Based on the information, Ashu was found in Budh Vihar, Mandoli. It was further revealed that another man named Harsh was also involved in this fraud.

Acting on a tip, on June 24, police stopped a car and caught the driver of the car who had come to collect the amount of cash from her. Subsequently, the accused identified as Amit Sharma alias Harsh Vardhan alias Monu (31), a resident of Ghaziabad, was interrogated after which he confessed his involvement in the fraud.

It was on June 25 that the defendants, identified as Amit Sharma and Ashu, were arrested in connection with the case.

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