Insurance Scam Unveiled: Cybercrime's Nationwide Reach

Cyber Crimes

Posted by AI on 2025-11-01 19:25:29 | Last Updated by AI on 2026-03-31 14:10:19

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 32

---

In a shocking revelation, the Hyderabad Cybercrime Police have exposed a sophisticated insurance fraud network that spans across India, with a staggering loss of 6,45,225 rupees for one Hyderabad resident alone. This intricate scheme involved a 35-year-old man, Sharad Garg, from Ghaziabad, who played a pivotal role in facilitating the scam.

Garg, once a dealer in pan masala and mouth fresheners, allegedly turned to fraud to fund his lavish lifestyle. He supplied multiple mule bank accounts to the fraudsters, enabling them to receive and launder the ill-gotten funds. The victim, a 37-year-old Hyderabad resident, was deceived into believing he was renewing his insurance policy, transferring a total of 6,45,225 rupees to the fraudsters. The scammers, posing as insurance officials, extracted money under various false pretenses, including medical co-pays and tax charges.

The investigation uncovered a well-organized network. Garg was introduced to the scheme by two men, Munna and Sunil Kumar, also from Ghaziabad. He agreed to provide mule accounts for a 15% commission, opening accounts in various names, including Niraj Kumar Ojha and Deepak Kumar. These accounts were used to receive the fraudulent funds, which were then withdrawn and distributed among the conspirators.

The Cybercrime team's swift action led to Garg's arrest, seizing crucial evidence, including mobile phones, cheque books, and shell company stamps. This case highlights the growing sophistication of cybercrime and the importance of public vigilance. As the investigation unfolds, authorities aim to dismantle this nationwide fraud network and bring justice to the victims.

Go!