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Economic Fraud

Noida Police Arrest 11 in Multi-Crore ‘Insurance Policy Renewal’ Racket

The Noida Police arrested 11 people for running a bogus loan and insurance policy renewal racket. The suspects, including the masterminds Ashish Kumar and Jitendra Kumar Verma, targeted over 10,000 victims and amassed over ₹1 crore. The operation was uncovered in a joint effort by the crime response team and Sector 49 police station.



Noida: In a significant breakthrough, the Noida Police arrested 11 individuals involved in a fraudulent loan and insurance policy renewal racket. This operation was uncovered from an office in Sharma Market, Hoshiarpur, Sector 51, in a joint effort by the crime response team (CRT) and Sector 49 police station team.

Deputy Commissioner of Police (Crime), Shakti Avasthy, revealed that the arrested individuals were operating a scam that targeted over 10,000 victims. The suspects were identified as Ashish Kumar (alias Amit), 28; Jitendra Kumar Verma (alias Abhishek of Bisrakh), 30; Nisha alias Sneha, 23, a native of Bihar; Kajal Kumari alias Shruti, 21; Sarita alias Suman, 23; Babita Patel alias Mahi, 23, a native of Varanasi; and Garima Chauhan alias Sonia, 23, all residents of Delhi. Additionally, Reju alias Divya, 22, a native of Badohi district; Lovely Yadav alias Shweta, 33, a native of Firozabad; Poonam alias Puja, 32; and Arti Kumari alias Ananya, 19, a native of Azamgarh, all residing in Noida’s Hoshiarpur village in Sector 51, Noida, were also apprehended.

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The operation was masterminded by Ashish and Jitendra, who hired the women to make calls and deceive people into purchasing fake loans and insurance policies. They contacted victims, claiming to be agents from a reputed insurance company, and offered to renew their policies or provide lucrative policies with high returns in a short time. The victims were asked to transfer money, after which contact was suspended.

The gang was active in Noida for the past four months but had been running their fraudulent activities across the country for over a year and a half. Ashish, a commerce graduate from Delhi University, confessed to buying data of 10,000 people for ₹2,500 from the dark web. He then recruited women to call and sell these fake policies. The data was stored in a black diary, which was recovered by the police along with 25 mobile phones, 81 data sheets, a register, and two fake Aadhaar cards.

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The women worked on a commission basis, earning more for selling more policies. The money collected from the victims was transferred to a bank account in Karnataka rented by Ashish. He and Jitendra would then divide the money, keeping larger shares for themselves. The suspects had previously been involved in a similar scam in Ranchi, Jharkhand, earlier this year before moving to Noida. They reportedly amassed over ₹1 crore through this bogus operation.

The police are continuing their investigation to uncover more details about the gang’s activities and to identify additional victims.

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