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Insurance Agent Booked For Cheating Senior Citizen Of Rs. 3.5 Crore


An insurance agent has been held guilty and been arrested by the EOW (Economic Offences Wing) for allegedly duping a senior citizen of Rs 3.5 crore by wrongfully producing forged documents.

Insurance Agent Booked For Cheating Senior Citizen Of Rs. 3.5 Crore

As per the police, the accused has been the resident of Krishna Nagar in Delhi. Further as per the police the accused pushed the victim to invest in insurance policies for getting handsome return together with other benefits. The accused received handsome amount against the policies in his name from the victim.

And thereafter, the accused with the help of others misappropriated the amount by issuing fake policies in the victim's name.

"They used to make call to persons randomly to induce them for investment in different schemes of insurance policies. They target senior citizens for inducing them and after receiving money from them, they used to make Demand Draft in favour of the Insurance Company for which they assured the victim to issue policy but they used the same in their favour at the time of issuing policy and get the policies issued in their favour," said Vijayanta Arya, DCP, EOW.

By involving in such misappropriation of funds, the accused used to get all benefit such as the commission or policy amount ( after the policy lapses for non-payment of premium installments).

Read more about: fraud
Story first published: Wednesday, March 10, 2021, 13:55 [IST]
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