Insurance Fraud! Yes Bank Employees Arrested in Sambhal for Involvement in Insurance Fraud
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A case of insurance fraud has been uncovered in Sambhal, where police have arrested two individuals, Nitin Chaudhary and Dishu Sharma (alias Harshit Sharma), who were employees at Yes Bank’s Anupshahr branch. The arrest was made by the Rajpura police station, as revealed by Additional Superintendent of Police (ASP) Anukriti Sharma.
How the Fraud Took Place
The accused tampered with the insurance policy of Sunita, a resident of Etah. They manipulated her Aadhaar card by changing her address to one in Delhi. This allowed them to take out an insurance policy from Tata AIA Life Insurance on August 16, 2024. Sunita’s husband, Kamal Singh, was listed as the nominee on the policy.
To proceed with their fraud, the gang used Kamal Singh’s personal documents, which they obtained by promising him financial assistance. They opened a bank account for him at Yes Bank’s Anupshahr branch using these documents.
The Fraudulent Claim and Withdrawal
After Sunita’s unfortunate death on September 26, 2024, the accused convinced Kamal Singh to sign the insurance claim form in Noida. On January 13, 2025, they fraudulently withdrew Rs 5 lakh from Kamal Singh’s account using a fake self-check. Nitin Chaudhary, one of the bank employees involved, helped the gang by ignoring banking rules and facilitating the withdrawal.
Nitin Chaudhary admitted to his involvement, explaining that he had been assisting the gang members in withdrawing money from account holders’ accounts for some time.
Other Members of the Fraudulent Gang
While two of the gang members have been arrested, one, Ravi Sharma, is still on the run. The accused also misused the identity of a person named Raju Giri to obtain mobile numbers, which helped them further their fraudulent activities. Additionally, Mahendra and a SIM card seller named Prempal were involved in the scam. Prempal is already in jail for a separate case.
This gang had been causing financial losses to individuals by opening fake insurance policies and bank accounts using forged documents. Click here to read more news.
Conclusion
The police are continuing their investigation, and efforts are underway to catch the remaining members of the gang. The case highlights the growing issue of financial fraud involving fake documents and the importance of careful scrutiny in banking and insurance sectors.
