Pramesh S Jain & Yogesh K Porwar
CCB officials busted an insurance racket and arrested a couple for cheating senior citizens promised them to get insurance which could fetch them five fold returns in one year .
The accused Udaya B and his wife Tirtha Gowda worked at insurance companies in the past and started conning senior citizens by collecting their insurance data from the companies where they worked in the past .
They operated through a call center they set up at Indiranagar in Bengaluru.
According to the Police Commissioner,B Dayananda eight bank accounts of the couple with Rs.1.8 crore were frozen.The couple had cheated 290 people so far.
The racket was busted when a senior citizen believing them not only invested his life saving into insurance policies but also sold his house to invest the money anticipating that he would get the double amount for his investment in one year.
The cheating came to light when the victim contacted the company directly after one year to claim his returns.
The insurance company clarified that there was no such facility and the victim had to continue paying the premiums for many years.
Shocked victim when tried to call the couple they tried to avoid him following which he filed a complaint with the police.
During investigation it was revealed that the couple would work for many insurance companies as agents on commission basis and the more they get policies, the more commissioner they would get.
They decided to make use of this and hired four to five tele callers and give them a list of customers from the company they were working .
They would also set daily targets for the tele callers to call and convince the customers who are mostly senior citizens whose policies are expired due to technical reasons he added.
