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CBI probe Rs 50 lakh insurance fraud

The Central Bureau of Investigation, Mumbai has registered a case of forgery and fraud against a PMC employee and two members of a local NGO who allegedly misappropriated the insurance money of over 2,000 beneficiaries of LIC’s Janashree policy in Pune and nearby areas. According to CBI, over Rs 50 lakh of insurance money has been misappropriated.

The CBI officials raided the residences, offices of the NGO and visited the LIC headquarters as well as a Karad Urban Co-op Bank branch on Thursday in a bid to seize ‘incriminating documents’. The CBI had learnt that the beneficiaries of the policy were being cheated of the insurance money as the fraudsters opened bogus bank accounts and misappropriated the money. “We recently registered a case of forgery and fraud under IPC and Prevention of Corruption Act against the three accused and unknown officials of the LIC and Karad Bank,” said a CBI official on the condition of anonymity.

The Janashree policy is an insurance scheme which has people below the poverty line as beneficiaries and NGOs as nodal agencies. A senior LIC officer confirmed that CBI officials had visited the office. “Two months back too the CBI had visited our office with a similar case of a Solapur-based NGO misappropriating the insurance money. Later they had ruled out LIC’s involvement,” he said.

When contacted, the General Manager of the Raviwar Peth branch of Karad Bank, Suraj Shah said he was unaware of any such CBI inquiry.

Source: Express India


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