Cyber Crime Police Arrest Ghaziabad Man for ₹6.45 Lakh Insurance Fraud
HYDERABAD: Cyber Crime Police, Hyderabad, have arrested a 35 year old man from Ghaziabad, Uttar Pradesh, for his alleged involvement in an insurance fraud racket operating across multiple states. The accused, identified as Sharad Garg, son of Kalpana Garg, is reportedly linked to at least six fraud cases nationwide, including one in Telangana.
Police said the arrest followed a complaint from a 37 year old Hyderabad resident who was duped of ₹6,45,225 by a fraudster posing as Prashant Tripathi, claiming to be Chief Head Officer of Max Life Insurance, Axis Bank. The caller allegedly persuaded the victim to transfer the amount through PhonePe for policy renewal and related charges. Despite repeated assurances, no refund or policy update was provided.
A case was registered under Crime No. 1805/2025 for offences under Sections 66C, 66D of the Information Technology Act, and Sections 318(4), 319(2), 336(3), 338, 340(2) of the Bharatiya Nyaya Sanhita (BNS).
Accused arranged mule bank accounts
Police said Garg, who earlier dealt in pan masala and mouth fresheners, joined hands with two Ghaziabad residents, Munna and Sunil Kumar, to supply mule bank accounts used to receive fraudulently obtained funds. He was promised a 15% commission for each transaction.
He later opened and operated several bank accounts in the names of others, including Niraj Kumar Ojha and Deepak Kumar, at Bandhan Bank and RBL Bank. The victim’s funds were transferred into these accounts before being withdrawn and distributed among the accused.
Seized items and police action
During the operation, the police seized three mobile phones, four cheque books, two bank cards, one laptop and two shell company stamps.
The investigation team was led by Inspector of Police P. Pramod Kumar, assisted by SI Shaik Azeez and police constables Prabhu, Venu Gopal, Vijay, Sandeep, Ashwin, and Ramanjaneya Prasad.
Public advisory
Cyber Crime officials urged citizens to verify the authenticity of insurance agents and make payments only through official company channels. They also advised reporting suspected frauds to the National Cybercrime Reporting Portal (https://cybercrime.gov.in) or by calling the helpline number 1930.
“Extremely low premiums or guaranteed quick returns should be treated with caution,” police said, advising the public to protect bank and policy details from unauthorised access.
