HYDERABAD: Madhapur SOT and Miyapur police have busted a fake insurance general policies racket and arrested three accused, while a fourth is on the run.
According to Madhapur DCP Shilpa Valli, the police teams were able to arrest Mohammad Sarwar Sharief, Mirza Iliaz Baig and Shaik Jameel while Azar is still on the loose.
The prime accused, Sharief, runs a customer service point in Adityanagar and creates fake general policies using the names of reputed insurance companies.
The accused admitted to preparing vehicle insurance policies in their office and selling them through mediators for a price of Rs 500 to Rs 1,000 for each policy.
Police arrested the three individuals and seized material worth Rs 7.5 lakh, including Rs 79,000 in cash.