In a sensational cheating and fraud case, the Economic Offences Wing (EOW) of the Crime Branch, Jammu, has filed a chargesheet against a former female employee of ICICI Prudential Life Insurance for allegedly orchestrating a sophisticated insurance fraud involving forged documents and the fraudulent withdrawal of over Rs 10.75 lakh.
The chargesheet was filed before the Court of the Third Additional Munsiff Judge, Jammu, in connection with FIR No. 02/2013 registered under Sections 420, 467, 468 and 471 of the Ranbir Penal Code (RPC). The case was initially registered at Police Station Gandhi Nagar in Jammu district.
The case arose from a complaint filed by Deepak Bhat, Branch In-charge of ICICI Prudential Life Insurance Co. Ltd, Jammu, alleging that former employee Parul Sharma fraudulently surrendered Policy No. 08551598 using forged documents and diverted Rs 10,75,742.95 to a fake State Bank of India (SBI) account opened in the genuine policyholder’s name.
Investigators said similar attempts were also allegedly made to fraudulently surrender two other insurance policies. Accordingly, FIR No. 02/2013 under Sections 420, 467, 468 and 471 RPC was registered at Police Station Gandhi Nagar and was later transferred to the Crime Branch, Jammu, for an in-depth investigation.
During the investigation, records obtained from SBI and ICICI Prudential Life Insurance revealed that the accused, Parul Sharma, had fraudulently obtained duplicate policy documents, forged surrender papers and opened a fake SBI account in the genuine policyholder’s name using forged documents.
The surrendered policy amount of Rs 10,75,742.95 was subsequently transferred to the fake account through the NEFT system. Witness statements, documentary evidence and forensic examination conducted by the Forensic Science Laboratory (FSL) allegedly established the accused’s role in opening the fraudulent account and executing the fake policy surrender, causing wrongful loss to ICICI Prudential and the policyholder while securing wrongful gain for herself.
Based on the oral, documentary and scientific evidence, the Crime Branch completed its investigation and filed the chargesheet before the Court of the Third Additional Munsiff Judge, Jammu, for judicial proceedings.
The Crime Branch has advised the general public to remain vigilant against such economic frauds and urged citizens to report any such incidents to the SSP, Crime Branch EOW, Jammu.
Another chargesheet filed in bank loan fraud case
In another case, the Economic Offences Wing (EOW), Crime Branch Jammu, has filed a chargesheet before the court in Jammu against two fraudsters in case FIR No. 05/2024 U/S 420, 467, 468, 471, 120-B-RPC registered in Police Station Crime Branch EOW Jammu.
J&K Police
The case was registered on the written complaint lodged by Sushil Kumar, Branch Manager, State Bank of India, Agriculture Development Branch, Jammu, against Kulbir Singh, proprietor of M/s K.K. Motors; Abdul Hamid; and others. It was alleged that Abdul Hamid obtained a tractor loan of Rs. 7,20,000/- under the SBI Tatkal Tractor Loan Scheme for the purchase of a tractor from M/s K.K. Motors.
The loan amount was disbursed through NEFT to the dealer’s account after completion of formalities. However, the tractor was not delivered to the borrower despite receipt of payment, causing wrongful loss to the bank and misuse of public funds.
During the investigation, it is clear that the accused Kulbir Singh, proprietor of M/S K.K. Motors, and Abdul Hamid fraudulently obtained a tractor loan of Rs. 7,20,000/- from the SBI Agriculture Development Branch, Jammu, by submitting fake and forged revenue documents. Investigation revealed that the loan amount was diverted to the account of M/s K.K. Motors, and the financed tractor was never delivered to the borrower.
Investigation supported by documentary evidence, witness statements, financial records and other corroborative material culminated in the filing of a chargesheet.