New Delhi, Aug 1 (IANS) Delhi Police on Monday claimed to have busted a pan-India racket involving fake insurance policies and arrested a 32-year-old man in this connection.
Sumit Verma was arrested from Noida in Uttar Pradesh on July 22 for cheating several persons on the pretext of providing them huge bonus or additional growth on investment pertaining to insurance policies, the police said.
“Sumit, along with his associates, cheated innocent persons to the tune of crores of rupees,” Joint Commissioner of Police (Crime Branch) Ravindra Yadav said.
The accused persons who have cheated people in Delhi, NCR (National Capital Region), Dehradun and Chandigarh, were operating from Noida and received the cheated amount in company accounts.
The accused recently cheated Atam Prakash Wadhwa, 80, a Delhi-based retired government employee of Rs 77 lakh, the official said.
“Other accused Rajdeep Maan and Arun Sood (directors of these companies) are still at large,” he said.
The police said the accused specially targeted retired persons as they get a sizeable amount of money on their retirement and look for investment options.
“The victims were contacted in the name of holiday package offers and later they were induced for huge bonus or returns on their insurance policies.
Victims were tricked into depositing certain amounts in the company’s bank accounts and after some amount had been deposited, they were further induced to deposit more money on several other instances in the name of NOC, income tax payments, service tax payments, and the like, the official added.