Two arrested for duping the elderly on pretext of offering insurance bonuses

NEW DELHI: Two cheats have been arrested by the North West Delhi police for duping elderly people on the pretext of bonus offers on their insurance policies. They also used to target those who wanted to invest in insurance policies by enticing them with lucrative offers.

The police claimed that they have been targeting hundreds of people and have cheated them of more than Rs 7 crore.

The accused have been iden- tified as Madhuvendra Singh alias Sanjay (31), a resident of UP’S Etah, and Renu Pandey(29) alias Rashi, a resident of east Delhi’s Mandawali. The police have seized account statements of 13 companies where the more than Rs 7 crore cheated amount was verified.

Several forged documents of ROC, IRDA, banks and other Government agencies have been seized from them.

“The cheats used to call their targets, pretending to be from IRDA, that their insurance policies had been selected for bonus. If they wanted to get the bonus, then they could transfer the required amount into the accounts for the opening of the code which was locked by the company.

This way, 15 banks account were used by the alleged culprits to get the money transferred into those account. The accounts were opened in the name of companies and firms,” said DCP (North-west) Aslam Khan.

The accused had collected the data of policyholders while working with some reputed insurance companies in the past.

During questioning, the accused disclosed that in order to make easy money, they planned to target simple elderly persons who had invested or wanted to invest in the insurance sector. A team was hired to make phone calls to “clients” where they advised victims to surrender their policies. The conmen allured them, claiming that they would provide the bonus before maturity.