Insurance company manager, six arrested for allegedly defrauding policyholders
Published Date – Tue, 09 May 23 at 07:40 AM
Hyderabad: On Monday, Rachakonda police arrested six people, including an insurance company manager, for allegedly defrauding policyholders by making them false.
Those arrested included Kosaraju Ranga Sai Harsha (27), D Akshay Kumar (31), Mohammed Yaseen Ahmed (27), Manyam Prashanth (23), Vutukuri Achyuth (28), who worked as a key relationship manager at an insurance company. ) and Anugula. Prakash Reddy (27).
The police confiscated PAN cards, driving licenses, gold weighing 376 grams, cash worth Rs 6 lakh, check books, mobile phones and frozen bank accounts containing Rs 3.49 lakh.
Rachakonda police chief DS Chauhan said the gang exploited loopholes in the operations of insurance companies and banks to commit fraud worth Rs 4 million.
The prime suspect in the case, Ranga Sai, illegally wrote down the login IDs and passwords of several of his colleagues and used it to change the email IDs and passwords of policyholders in the company’s database. He chooses an NRI policy, an elderly policy, or a policy that has been left unclaimed for a long time for various reasons.
“After changing the email id and phone number on record, Ranga Sai with the help of his colleagues sent an email to the insurance company requesting a disqualification. The company will send a disqualification link and Ranga Sai will again Fill out the form and provide the bank details of the fraudulent account opened in the name of the policyholder and collect the amount,” DS Chauhan said.
The fraud came to light after an NRI contacted the police and lodged a complaint that someone had abandoned his policy and demanded Rs 7.6 lakh. After receiving the complaint, the police opened a case for investigation.
“During the investigation, it was discovered that the gang had formed a well-functioning network and had opened bank accounts in the names of policyholders using false documents. Their pictures had been substituted in the identification documents provided to the banks,” He said.
The money in the NRI case was used to buy gold jewelry and other uses. During the investigation so far, the police discovered that the gang had defrauded about 19 people so far. “Some of the victims were elderly and deceased policyholders whose relatives were unaware of the policies they purchased,” DS Chauhan said.
