Delhi: Police bust insurance fraud, seized forged government documents

Police said they received a communication from the Union finance ministry regarding financial fraud, impersonation and forged documents

Delhi Police have busted a gang committing insurance fraud in the name of union finance ministry, officers aware of the matter said on Tuesday, adding that the accused used to pose as ministry officials and used documents on which they had forged finance minister Nirmala Sitharaman’s signature.

The fraudsters used to call insurance policy holders posing as officials from the Insurance Regulatory and Development Authority (IRDA), Reserve Bank of India (RBI) or Union finance ministry. (Representative Photo)

Deputy commissioner of police (Intelligence Fusion and Strategic Operations) Prashant Gautam said the accused have been identified as Mehtab Alam (33), Sartaj Khan (31), Mohammed Junaid (29) and Deen Mohammed (27).

Police said they also received a communication from ministry regarding financial fraud, impersonation and using forged documents, with a fake letter issued bearing the minister’s signature also attached.

In the complaint that led to the case, the victim said he received a call from a person who identified himself as Chaman Lal, who told him that some amount was sanctioned against his lapsed insurance policy. The victim was then asked to provide his email id. Subsequently, a letter was sent to the victim via dicgc@rbidepartment.org.in -- a fake email id -- wherein he was informed that an amount of ₹12,46,518 was sanctioned against his lapsed insurance policies.

“He was initially asked to pay ₹44,000 as processing charges. When he paid the said amount, he was again asked to pay ₹27,000 as No Objection Certificate charges and when the victim paid the asked amount, a fake cheque of ₹12,46,518 was sent to the victim by the fraudsters through post,” DCP Gautam said.

When the victim received the cheque, he was asked to pay ₹52,000 as the final fund release charges, and was told that without paying the said amount, he would not get the money on the cheque, taking the total amount he was cheated of to ₹1,27,000, police said.

Based on the complaint, a case was registered and investigation was taken up.

With the help of technical surveillance, police zeroed in on the location and identity of the suspects, who were found changing their locations. Thereafter, a police team conducted raids at and around their last known locations and apprehended Alam, the mastermind of the syndicate, from Mustafabad. Three of his associates -- Khan, Junaid and Mohammed -- were also traced and arrested.

During interrogation, police said, it was revealed that the accused previously worked at insurance companies. They used to call insurance policy holders posing as officials from the Insurance Regulatory and Development Authority (IRDA), Reserve Bank of India (RBI) or finance ministry and lured them on pretext of providing the maturity amount against their existing or lapsed policies.

In order to convince policy holders, the accused would send them emails with forged documents seemingly issued from government agencies, and would send fake cheques to the victims by post and then ask for various charges, such as processing charges, NOC charges and fund-releasing charges. “Upon getting the cheques, the gullible victims used to transfer the amount into the accounts provided by accused persons and then the accused would withdraw the cheated amount from different locations in Delhi,” the DCP said.