India


Insurance fraud racket busted, kingpin arrested

New Delhi Dec 11 (UNI) An insurance fraud racket, operating under the cover of a tour agency, has been busted and kingpin of the gang arrested, who duped people on the pretext of granting loan on insurance policies and huge returns on expired insurance policies, police said today.
Crime Branch arrested kingpin Shahnawaz Ahmad from his luxury apartment at Greater Noida, who ran two finance broking agencies in Delhi under Money Care Value Pvt Ltd” at District Centre, Janak Puri and 'CharteredSolutions' in Gorakhpur, Uttar Pradesh.
The team also recovered a laptop, a desktop computer, mobile phones, stamps of various insurance companies, cheques of their victims and other incriminating material.
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