HYDERABAD: The Special Operations Team of Cyberabad commissionerate busted a fake insurance policy racket and arrested 11 persons on Tuesday. The gang was involved in creating and selling fake insurance policies.
They had cheated more than 2,000 individuals to the tune of tens of lakhs. Fake insurance policy documents, pollution certificates, and other incriminating documents were seized from them, said Cyberabad police commissioner VC Sajjanar.
The racket has been in operation for the past two years. Its activities came to light when a customer approached an insurance company to purchase a claim, and the policy was found to be fake during an internal inquiry.
According to the police, the 11-member gang prepared fake vehicle insurance policies in the names of Reliance General Insurance, Kotak General Insurance, HDFC ERGO General Insurance, IFFCO-TOKIO General Insurance, Chola MS General Insurance, Future General Insurance, Shriram General Insurance and Royal Sundaram General Insurance. They sold these policies to customers in need for exorbitant amounts.