Fake insurance company busted; 3 arrested

A fake insurance company, whose agents were operating in many northern states, has been busted by the Kota police with the arrest of three people from different parts of Uttar Pradesh, a senior officer said today.
The arrested are Deepak Babu Nat (27) and Chandrabhan Singh (27), both residents of Auraiya district in Uttar Pradesh, and Ajay Baghal (26), a resident of Ghaziabad, said Munindra Singh, the SHO of Vigyannagar police station here.
They have cheated several gullible investors in Uttar Pradesh and Rajasthan of several lakh rupees after promising huge returns on various insurance policies.
Abdul Rahim Khan, a resident of Vigyannagar police station area, lodged a complaint earlier this month, alleging that he was duped by agents of a fake insurance company, the SHO said.

A special team was constituted to investigate the matter and through tracking phone calls made by the agents and their bank account details, the team succeeded in nabbing the accused yesterday, he added. They were arrested from Auraiya and Noida.
They were produced in a court, which remanded them in five-day police custody.