In what could just be the tip of an iceberg of a major scam in Indian postal department, two persons have been arrested for withdrawing insurance amount from postal life insurance. Delhi Police officers, who are a part of this investigation, suspect the role of senior officers in helping these outsiders withdraw money.
According to police sources, the postal department officials diverted the funds from postal life insurance policies into a new fake insurance scheme. "As these officers knew the entire procedure only too well, they prepared forged papers to show that the two fraudsters had taken the fake policy," a senior police officer requesting anonymity said.
Soon, their 'policy' would mature and the postal department would deposit the policy amount in their bank accounts.
"The insiders involved in the racket withdrew cash from other policy holders' accounts and deposited the money in the fraudsters' accounts," the officer added.
The arrested persons have been identified as Peeyush Bhandari and Amit Kumar Dhingra. They had withdrawn nearly Rs10 lakh from postal department.
The postal department had filed a complaint with Mandir Marg police station in July 2010 but the arrests were made only two days ago. In September, the investigation had been handed over to SI Bhanu Pratap and HC Ved Pal who made these arrests. "Now we will identify those who provided them fake insurance policy documents," the officer added.
The fraud was detected when the postal department noticed that the money was given to a policy holder who had never opened an account with the department.
An internal inquiry was launched and it was found that two persons had withdrawn huge amounts of cash which was sent to their accounts by the postal department itself.