Indian Men arrested for Operating Fake Insurance Company

Inayat Abdul Gani Bedrekar, Prashant Suttar and Gajarnan Kedar Patil were arrested for running a fake insurance company, selling over 800 bogus policies.

Indian Men arrested for Running Fake Insurance Company f

"We found a victim who was targeted and cheated by the accused"

Inayat Abdul Gani Bedrekar, aged 31, Prashant Suttar, aged 25, and Gajarnan Kedar Patil, aged 28, have been arrested for running a fake insurance company.

The three men, all from Mumbai, sold bogus insurance certificates to motorists.

Bedrekar and Suttar ran the company, while Patil was employed to sell the insurance policies.

They had one office in Lower Parel, Mumbai while the head office was based in Belgaum, Karnataka.

It was found that they had sold over 800 counterfeit insurance policies to several motorcycle owners in the city.

Officials from Mumbai’s Crime Branch had received information about a company called ‘One Point Solutions General Insurance.’

They sold fake insurance policies of different legitimate insurance companies to unsuspecting customers.

An investigation into the company began after one person made a complaint.

An officer said:

“We found a victim who was targeted and cheated by the accused and following his complaint, police registered the offence under various sections 420, 465, 467, 468, 471, 473, 120 (B) and 34 of Indian Penal Code at NM Joshi police station and started an investigation.”

Crime Branch raided the office of the fraudulent company in Lower Parel.

They seized 306 duplicate insurance policies of various companies.

This includes Bajaj Allied Insurance, General Insurance, Sri Ram General Insurance, Reliance General Insurance, ICICI Lombard Insurance and Bharati Axa Redefining General Insurance.

Police officers also seized duplicate stamps, paper and electronic gadgets. Patil was also arrested.

During police inquiries, it was discovered that the CEO and the General Manager of the company were based in Belgaum in Karnataka State.

After the case was registered, a team was formed and immediately dispatched to Belgaum.

Under the supervision of Inspector Sanjay Nikumbhe, they conducted raids in the office. Various documents and other materials used for preparing bogus policies were recovered.

In addition, officers seized bank account details of the accused at the Belgaum-based office.

At the office, police officers arrested Suttar and Bedrekar who were the ringleaders.

According to DCP Dilip Sawant, the men obtained information on two-wheeler owners whose insurance had expired or was about to expire.

Suttar and Bedrekar hired several sale agents and had access to people’s data.

The sale agents would then contact the victims by going door-to-door. The men would then offer insurance policies at discounted prices.

Inquiries revealed the gang had sold more than 800 fake insurance policies to motorists in Mumbai.

Mumbai police suspect the numbers could be much higher across other cities such as Maharashtra and Karnataka.

Dhiren is a journalism graduate with a passion for gaming, watching films and sports. He also enjoys cooking from time to time. His motto is to “Live life one day at a time.”