The Economic Offences Wing (EOW) of the Delhi Police on Sunday arrested a gang of 4 financial offenders allegedly concerned in an insurance coverage fraud case targetting veteran military officers.

The group was dishonest the veterans within the title of facilitating the discharge of excellent insurance coverage of maturities and bonus to them from AGIF (Army Group Insurance Fund). The fraudsters had been demanding cash from their targetted individuals, officers mentioned.

According to the police, as many as 54 retired military officers had been on course, of which, 13 allegedly fell prey to the fraudsters and collectively coughed crores of rupees.

Four arrested have been recognized as Raj Rajput (36), Prabhat Kumar (33), Ram Naresh (52) and Ram Sagar (28). The group was concerned in varied different instances of frauds and have cheated individuals in a number of states, police mentioned.

“Fraudsters were calling up veterans for release of some monetary benefits to them from AGIF (Army Group Insurance Fund). They made telephone calls to the pensioners; next of kin by promising them a large sum of money in the range of Rs 3-4 lakh and, in turn, demanded very small amounts of Rs 30,000-40,000 in advance in the name of processing fees for releasing the funds,” Additional Commissioner of Police (Economic Offences Wing), R.Ok. Singh mentioned.

“One of the victims Colonel G.M. Khan from Army Service Corps paid Rs 1.27 crore to these fraudsters from his account till date. Other retired army officers were also targetted by the alleged persons and 12 more officers deposited varying amounts in the bank accounts as per the instructions of these cheats,” he added.

Police mentioned that greater than 50 financial institution accounts had been analysed aside from verification of all of the out there addresses of the account holders and the cellphone numbers utilized by the financial offenders.

“The investigation has revealed that the bank accounts in which the amounts of the victims were credited were opened by accused Ram Naresh and Ram Sagar in the names of various firms on rented addresses. Owners of the properties had no clues about these offenders. The cheated amounts were withdrawn in cash immediately either through ATMs or cheques. Analysis of bank accounts revealed that accused Prabhat Kumar was withdrawing cash through self cheques,” Singh added.

The Delhi Police had registered a case beneath sections 420, 120-B of India Penal Code on September 17, 2019 and had been searching for these fraudsters.

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