With the arrest of a man, the Delhi Police on Sunday claimed to have busted a syndicate of insurance fraud running in national Capital. The gang recently duped a senior citizen to the tune of Rs six crores.

The accused has been identified as Vikram Singh who was arrested by the Economic Offences Wing (EOW) of Delhi Police from Rajasthan’s Jodhpur on January 15. Earlier,  the police had arrested eight persons involved in the fraud and one juvenile was also apprehended by the police. 

According to Dr O P Mishra, the Joint Commissioner of Police, EOW, the daughter of 86 year-old Satish Roy Kapur alleged that her father has been duped unto the tune of Rs six crore by officials of Insurance companies, their agents and HDFC Bank employees.

“In her complaint she alleged that her father is holding five bank accounts at HDFC Bank in which joint holders were her brother Gaurav Kapur, her sister an American Citizen and herself. The bank account was operated by her father and a corpus of Rs. 4-5 Crores was maintained in the bank,” said the Joint CP.

“The complainant noticed that huge amounts have been transferred to the accounts of the unknown persons from her father’s account. On enquiry  her father told that certain individuals were helping him to retrieve his money from the insurance companies. The five joint accounts operated by her father have debited Rs. 85 lakhs to the insurance companies and Rs 5.16 crores have been transferred to the other bank accounts operated by the syndicate,” said the Joint CP.

“Due to old age her father did not realize that he had been duped by unscrupulous persons. A case was registered and investigation was taken up,” said the Joint CP.

“During investigation, the police team found that the money was transferred in the name of a company Roop Shree Infotech in Jodhpur and its proprietor was Vikram. Further investigation also revealed that the accused along with his friends Jitender Yadav and Balbir Singh have cheated a large number of victims and asked them to transfer the money in different bank accounts,” said the Joint CP.

“The accused Jitender and Balbir are yet to be traced. Crores of rupees have been transferred into different bank accounts after the inducement by the accused persons. It is a syndicate of insurance fraudsters targeting a large number of people,” he added.