3 officials held for 58L insurance policy fraud using forged documents

Jaipur: Three employees of a private life insurance company were arrested Friday for allegedly siphoning off Rs 58 lakh by tampering with 18 life insurance policies using forged documents and fake bank accounts. Police identified the accused as Suraj Kumar (31), Jagdish Garg (36) and Mayank Katariya (40), all working as customer care executives with IndusInd Nippon Life Insurance Company Limited. The arrests were made in connection with a case registered at Kotwali police station under multiple BNS sections.According to police, the complaint was filed by Vijay Giri of the Fraud Control Unit of IndusInd Nippon Life Insurance Company Limited after an internal inquiry flagged irregularities at the Dungarpur branch. The complaint alleged that some employees were manipulating policy records, creating forged documents and diverting policyholders' funds.
SP Manish Kumar said a special team comprising Kotwali police, the district special team and the cyber cell conducted a raid at the company's branch office located above an e-Mitra shop opposite Bhogilal Pandya College. Documents, computers and mobile phones were seized. During interrogation, Suraj Kumar allegedly disclosed the involvement of Jagdish and Mayank, who were posted at the Udaipur branch. Police said the trio targeted policies of deceased persons, those suffering from serious illness, cases with no legal heirs, or policies lying unclaimed for years.Police said the accused misused the company's cheque reissue and revalidation requests, altered KYC details, uploaded forged Aadhaar, created fake bank accounts and transferred funds to unrelated accounts with similar names to avoid suspicion. In some cases, amounts were transferred to accounts of individuals with near-identical names to the original policyholders. Preliminary investigation indicates the fraud spanned multiple states, including Odisha, Assam, Bihar, Delhi, Uttar Pradesh, Maharashtra, Punjab and Rajasthan.