Fake insurance racket run by BSc graduate from UP busted by CCB Cyber Crime Wing who has cheated around 35 people to the tune of 4.5 Crores

Pramesh S Jain & Dr.Thomas (Special Correspondent)

The Cyber crime wing of the Central crime branch arrested a 40-year-old BSc graduate from Ghaziabad in Uttar Pradesh running fake insurance racket for the past three years cheating as many as 34 people and made away with Rs.4.5 crore .

The accused Manveer Singh alias Manoj Singh,worked in Noida at a private firm for few months before picking up the cyber fraud skills and started to make random calls to people claiming as insurance agent for a reputed company offering lucrative insurance policies with high returns in shorty period of time .

The accused had even floated a fake websites and advertisement page on social media claiming to be insurance agent for a private banks and firms .

The accused had even appointed a local person on a monthly salary to pick up pay cheques and documents from the victim’s residence,to make them believe that its genuine.

Many people including a senior citizen have fallen for this trap and issued a cheque of Rs.15 lakh to get a premium bond with high monthly returns,which was collected by the courier executive identified as Krishnappa on his behalf.

The accused had even issued fake insurance certificates to many victims which they have kept safely in the locker waiting for the maturity period.

The racket came to light when the senior citizen on suspicion cross checked with bank after failing to get his monthly interest.

Realizing that he has been cheated,the victim approached the police.

Based on the complaint,a team of police led by DCP, crime,Abdul Aahad, track down the accused to Ghaziabad where the accused was staying .

Probe so far revealed that the accused had cheated as man as 34 people so far and made over Rs.4.5 crore .

The money he had invested in many ways including a fertilizer shop which the accused was running at his home town has been seized.

City police commissioner,B.Dayananda, appreciated the CCB team and announced a cash reward.