Three days after searching 11 places in connection with a Rs 2.4 crore fraud case at a LIC branch office, Central Bureau of Investigation on Friday conducted fresh raids in another corruption case pertaining to a LIC official.
CBI officers searched the residence and the office of Vipin Topo, development officer at the LIC Branch Office-3, at TT Nagar and Saket Nagar localities. Earlier, the probe agency had registered a disproportionate assets case against Topo.
Two teams searched for documents and other details during the raids. After information from sources, CBI had recently registered a case of assets disproportionate to known sources of income worth Rs 1.10 crore against Topo. As part of the investigation, CBI started searching the official’s premises and office on Friday.
On Tuesday, CBI teams conducted search at 11 places in Bhopal in connection with the fraud case reported from LIC Branch-IV office. This was after the state-owned behemoth had lodged a case against higher grade assistant PS Bhadoria and some officials of LIC’s Branch–IV office under IPC for criminal conspiracy, cheating and crimes attracting imprisonment. The stringent Prevention of Corruption Act was also slapped against them.
Bhadoria had allegedly conspired with three private firms to siphon off Rs 2.40 crore from the LIC accounts to these firms. The account heads of renewal premium, bonus commission to agents and interest on policy loan were fraudulently debited. However, LIC recovered a significant portion of the siphoned sum.