Inter-state racket involved in fake sale of insurance policies busted, 6 arrested from Bihar's Begusarai

New Delhi [India], April 25 : The Intelligence Fusion and Strategic Operations (IFSO) unit Delhi Police's Special Cell busted an inter-state racket that used to target innocent people on the pretext of fake insurance policies and arrested six people from Bihar's Begusarai.
According to IFSO, Deputy Commissioner of Police (DCP) Prashant Gautam, the six people arrested have been identified as Dinesh Kumar Das, Birendra Kumar, Bablu Malakar, Raushan Kumar, Pawan Kumar and Mithilesh Kumar all residents of Begusarai in Bihar.
A complaint was received at IFSO, Special Cell wherein the complainant GS Rai, had alleged that some unknown group of people have cheated him to the tune of Rs 2.80 crore over the period of 7-8 years on the pretext of insurance policies and getting back the money stuck in the insurance policies.
During an exhaustive exercise of identifying the money trail through beneficiary bank accounts, it was found that about 35 bank accounts were used to dupe the complainant.
Through the analysis of the money trial and the electronic records, it was found that the racket is spread across many states and is being operated in many tiers.
The financial analysis revealed that in the alleged accounts, there are transactions of more than 40 Crore rupees and more than 100 victims have been duped by the racket.
During technical analysis, it was noticed that the accused persons had used several/multiple bank accounts for receiving money and money laundering.
Through the extensive financial trial and technical analysis, the accused persons were found to be operating in the area of Begusarai, Bihar.
The information was further developed through manual and electronic surveillance.
On, January 1, this year, acting on specific information, four accused persons were apprehended and later one was arrested.
After a preliminary enquiry, their identity was revealed as Birender Kumar Das, Raushan Kumar, Dinesh Kumar Das and Bablu Malakar.
During sustained interrogation, they all disclosed that the accused ie Pawan Kumar used to receive cheated money in cash.
Finally, on February 27, the mastermind of the entire incident Pawan Kumar, who used to provide bank accounts to the main accused Shyam Sundar was arrested.
During the police remand of Pawan Kumar, one more accused namely Mithilesh Kumar was arrested from Kaushambi (UP).
Raids were also conducted at his native place ie Dhabauli, Begusarai, Bihar, where he was running the Customer Service Point (CSP) centre of Bank Of Baroda.
In his instance, 1091 BOB Bank ATM cards, 22 Fino bank Instant Debit Cards, 56 Blank passbooks of BOB Bank, 58 BOB Bank passbooks of several account holders, one PNB Bank passbook, one blank passbook from HDFC Bank, one United Bank of India bank passbook of Co-accused Raushan Kumarwere were recovered from his rented premises. He was using these ATM cards in rotation for withdrawal of cheated money.

All the accused persons confessed their involvement in the crime.
During sustained interrogation, they disclosed that they used to provide their bank accounts on a commission basis to Pawan Kumar.
They are engaged in receiving cheated amounts on the pretext of insurance policy benefits, Loan benefits, since 2018.
They further disclosed that they operate in tiers and usually do not meet with other members of syndicates.
They procure fake accounts for receiving the money and further rotation of money.
They had duped more than 100 persons so far and had cheated to the tune of more than Rs 40 Crores.
So far, five complainants have been identified and linked with the alleged accused persons and accounts.
Investigation in respect of other financial transactions and other victims is in progress.