Three men arrested for running a bogus insurance company in Lower Parel

Updated: Feb 14, 2019, 17:57 IST | Suraj Ojha

The preliminary inquiry revealed, this gang sold more than 800 bogus insurance policies to several two-wheeler owners in the city.

Three men arrested for running a bogus insurance company in Lower Parel
Pic courtesy/ Suraj Ojha

Mumbai crime branch's unit-III has arrested three people identified as Inayat Abdul Gani Bedrekar (31), Prashant Suttar (25) and Gajarnan Kedar Patil (28) for running a fake insurance business. The crime branch (CB) officials received information about a company by the name 'One Point Solutions General Insurance' selling bogus insurance policies of different Insurance companies pertaining to motor vehicles. 

An officer said, "We found a victim who was targeted and cheated by the accused and following his complaint, police registered the offence under various sections 420, 465, 467, 468, 471, 473, 120 (B), and 34 of Indian Penal Code at NM Joshi police station and started an investigation."

Crime Branch then raided the office of the bogus company in Lower Parel and seized three hundred and six duplicate Insurance policies of various companies like Bajaj Allied Insurance, General Insurance, Sri Ram General Insurance, Reliance General Insurance, ICICI Lombard Insurance and Bharati Axa Redefining General Insurance along with duplicate stamps, papers and electronic gadgets. The accused involved in this illegal business were arrested.

During the course of inquiries, it was revealed the CEO and the General Manager of the company are based in Belgaum in Karnataka State. After the registration of offence, a team under the supervision of Inspector Sanjay Nikumbhe was formed and immediately dispatched to Belgaum where they conducted raids in the office and various documents and other incriminating materials used for preparing bogus policies were recovered. Police also seized the bank accounts of the accused in Belgaum.

According to Dilip Sawant DCP detection, the accused obtained information on two-wheeler owners whose insurance were about to expire and then contacted these people by providing door-to-door bogus insurance policies. The preliminary inquiry revealed, this gang sold more than 800 bogus insurance policies to several two-wheeler owners in the city.

Also Read: Man held for duping investors via fake companies

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