Ghaziabad Fake Insurance Scam Exposed: 5 Arrested for ₹95 Lakh Fraud

Ghaziabad’s Cyber Crime Branch has uncovered a fake insurance racket that preyed on unsuspecting policyholders, arresting five men accused of cheating victims out of more than ₹95 lakh. The accused allegedly posed as senior insurance company executives, promising high-return life insurance policies and issuing forged receipts to gain trust.

Police officials said the operation came to light following a tip-off, after which a dedicated team placed the suspects under surveillance and conducted a targeted raid on Saturday.

Suspects Nabbed After Tip-Off Raid

All five accused are residents of Ghaziabad and were operating as a close-knit group. According to investigators, the gang had clearly divided roles to manage calls, payments and documentation.

• Rishabh Kumar (39) identified as a key operator with prior fraud cases

• Vinay Gupta (55) handled logistics with Ashish Pawar (31)

• Himanshu Tyagi (28) and Yashpal Verma (28) contacted and convinced victims

ADCP Piyush Kumar Singh said the coordinated arrests helped prevent further losses and exposed the group’s wider fraud footprint.

Insider Data Fuels Deceptive Scheme

The investigation revealed that the racket relied heavily on stolen customer databases. Former insurance employees, including Sharvan Tiwari and Himanshu Chaudhary, allegedly supplied premium policyholder details, allowing the gang to sound credible during cold calls.

Using this insider information, the accused:

• Impersonated customer care officials from reputed insurers

• Offered “limited-period” high-return insurance products

• Sent fake receipts and policy confirmations after receiving payments

Police noted that such scams underline the importance of financial record transparency and controls - areas where structured practices similar to bookkeeping services in india play a key role in detecting inconsistencies and preventing misuse of customer data.

Seizures Expose Fraud Network

During the raid, police recovered several items pointing to a professionally run fraud operation. Forensic analysis of seized devices helped quantify the scam at approximately ₹95 lakh.

Recovered items include:

• 12 mobile phones containing scripts and call logs

• 12 ATM cards and eight SIM cards used for layered transactions

• One cheque book and a car linked to the accused

Officials confirmed that two of the accused had earlier been arrested in Gujarat for similar cyber insurance frauds.

Broader Implications for Cyber Policing

Authorities say the case highlights how insurance-themed scams are increasingly combining insider access with digital anonymity. Further investigations are underway to arrest absconding collaborators and trace money trails to recover victim funds.

Police have urged citizens to independently verify any insurance-related calls with official company helplines and avoid making payments based solely on telephonic assurances.