Jaipur, February 27 The Dungarpur Police on Friday claimed to have busted an organized gang allegedly involved in siphoning off money from life insurance policies through forged documents.
Three individuals have been arrested in connection with the fraud, which involves approximately Rs 58 lakh. Dungarpur SP Manish Kumar said the action was taken based on a complaint lodged by a life insurance company.
The complaint alleged that certain employees at its Dungarpur branch were manipulating records to divert funds from old and inactive policies into unauthorized bank accounts.
Acting on the complaint, a team comprising officials from Kotwali police station, the district special team, and the cyber cell was formed to investigate the matter.
During a raid at the company's branch office, police seized computers, mobile phones, printers, and several incriminating documents allegedly used to generate forged records.
Suraj Kumar Srivastava, a customer care executive at the Dungarpur branch, was detained for questioning. Based on his disclosures, two other employees, Mayank and Jagdish, posted at the company's Udaipur branch, were also apprehended. All three accused have been arrested.
"Preliminary technical and scientific investigation revealed that the accused misused the company's internal systems to identify policies where the policyholders were deceased, suffering from serious illnesses, had no legal heirs, or where no claims had been filed for several years," the SP said.
The investigation revealed that the accused prepared forged Aadhaar cards, PAN cards, cheque books, and bank passbooks.
They made unauthorized changes in the KYC details and bank information of policyholders to facilitate the theft. The funds were then transferred to fake or unrelated bank accounts, often with similar names to avoid detection.
Police have so far detected tampering in 18 policies, with fraudulent withdrawals amounting to about Rs 58 lakh, the officer added.
