In a massive breakthrough, Sambhal police filed an 800-page charge sheet against 11 accused in a multi-crore life insurance scam. Dubbed the “insurance mafia,” the syndicate faked policies for dying and deceased individuals, duping major insurers across 12 states. The racket involved sophisticated fraud, unethical tactics, and spanned multiple states including UP, Bihar, and Jharkhand.
Full Story:
In a significant crackdown on a sophisticated insurance scam, the Sambhal police have filed an 800-page charge sheet against 11 accused individuals involved in what authorities are calling a widespread fraud by an “insurance mafia.” The scam, which first came to light three months ago, has reportedly cost insurers hundreds of crores and spanned across 12 Indian states.
The investigation was led by Sambhal SP Krishna Kumar Vishnoi, ASP Anukriti Sharma, and Circle Officer Deepak Kumar. Their probe began following a tip-off on January 17, when police intercepted an SUV in Sambhal. The vehicle contained a suspiciously large amount of cash, along with multiple PAN cards and debit cards. This discovery led to the unravelling of a fraudulent network operating across state lines.
So far, 11 accused have been formally named in the charge sheet, including Omkareshwar Mishra of Varanasi, Surajpal and Shahrukh Khan from Sambhal, and Shivendra Kumar from Bihar. However, the police have identified a total of 26 members in the syndicate, and supplementary charge sheets are expected as the investigation progresses.
The gang’s modus operandi was chillingly calculated. They primarily targeted poor and terminally-ill individuals, presenting them as healthy applicants to obtain life insurance policies. Since these individuals were close to death, the fraudsters paid the premiums and quickly claimed the insurance benefits after their demise. In some disturbing cases, the gang even issued backdated policies for people who had already died and collected claims posthumously.
“The chargesheet has every detail, right from the initial interception in January. Evidence shows how the gang used the identities of real people, some already dead, to generate fraudulent policies. Some families were given a small share of the claim money, while others remained completely unaware,” said ASP Anukriti Sharma.
Reputed insurers such as ICICI Prudential, SBI Life, Bajaj Allianz, and PNB MetLife have been named as victims in this case. A total of 14 FIRs have been registered in police stations across Sambhal, Badaun, Moradabad, and Amroha.
Police believe this case could be one of India’s largest organized life insurance frauds to date, and they’re committed to tracking down all those involved.
Key Takeaways:
-
800-page charge sheet filed by Sambhal Police details evidence from a multi-crore scam.
-
11 people formally charged; more to be named in supplementary chargesheets.
-
The fraud involved creating life insurance policies for dying and deceased individuals.
-
Scam targeted poor, terminally ill people to claim post-death payouts.
-
At least 12 states were impacted, with 14 FIRs filed so far.
-
Major insurers affected include SBI Life, ICICI Prudential, PNB MetLife, and Bajaj Allianz.
