Bhubaneswar: Economic Wing Wing (EOW) from the Branch of State Crime on Thursday arrested a lifetime agent Corporation (LIC) for allegedly trying to cheat the insurance department from almost Rs 1.18 Crore on behalf of the ghost policy holder.
The defendant was identified as Kabiraj Behera (56), a resident of Kanas in Puri District.
Between 2013 and 19, Behera has cheavenly opening 23 policies on behalf of four people dead mistakenly showing them as alive.
Each policy has a guaranteed amount around Rs 7.8 lakh after death.
The defendant has paid monthly and quarterly premiums to 23 ghost policies.
After several years, he prepared a fake death certificate from four and claimed insurance in a tone of Rs 1.18 Crore for the sake of nominee, which was authenticized verified.
“He tried to take advantage of financial benefits of 23 ghost policies,” said an EOW senior officer.
During verification of several insurance claims applications, Lic suspects fraud and conducting an internal investigation.
Lic teams visited the houses of four beneficiaries and knew that they had died many years before the policy was opened in their names.
Lic then filed a complaint with EOW last month.
In all policies, the amount guaranteed deliberately guarded less than Rs 10 Lakh to ensure the completion of the claim is easy and fast at the branch manager level.
To take advantage of more claims than Rs 10 Lakh, the file will be referred to the division office for further verification before permission.
During the investigation, EOW knew that the LIC office had released a payment of more than RS 30 Lakh against five policies in the past.
During the search for the defendant’s house, EOW officials seized many burdensome documents, including voter identity cards, ATM cards, bank passbooks, checking books, and aadhaar cards from fake nominations.
Some papers that contain false signatures from ghost policy holders and their nominations have also been confiscated.
Behera has worked as a lic agent since 2003.
“Our investigation is ongoing.
The role of nomination of 23 policy holders and LIC officials is being verified.
We try to find out whether the nomination is postponed with Behera in fraud or he falses their signatures and submits insurance claims.
They will be questioned.
We also verified whether Behera had committed other fraud before, “the officer said.