In a major breakthrough, Noida Police apprehended 11 individuals involved in a widespread fraudulent loan and insurance policy renewal scam. The operation was uncovered at an office in Sharma Market, Hoshiarpur, Sector 51, following a joint operation by the Crime Response Team (CRT) and Sector 49 police.
Deputy Commissioner of Police (Crime), Shakti Avasthy, confirmed that the gang had targeted over 10,000 victims. The arrested individuals included Ashish Kumar (alias Amit), 28; Jitendra Kumar Verma (alias Abhishek), 30; Nisha alias Sneha, 23; Kajal Kumari alias Shruti, 21; Sarita alias Suman, 23; Babita Patel alias Mahi, 23; Garima Chauhan alias Sonia, 23; Reju alias Divya, 22; Lovely Yadav alias Shweta, 33; Poonam alias Puja, 32; and Arti Kumari alias Ananya, 19, all from Delhi and surrounding areas.
The fraud was masterminded by Ashish Kumar and Jitendra Kumar Verma, who orchestrated the scam by recruiting women to pose as agents of a well-known insurance company. They contacted unsuspecting individuals, offering fake loan renewals and high-return insurance policies. The victims were persuaded to make advance payments, only for the fraudsters to cut off contact once the money was transferred.
The gang operated for over a year and a half, with their activities in Noida lasting four months. Ashish Kumar, a Delhi University graduate, admitted to purchasing personal data of over 10,000 people from the dark web for Rs2,500. This data was stored in a black diary, which was seized by the police along with 25 mobile phones, 81 data sheets, a register, and two fake Aadhaar cards.
The women working for the gang were paid on a commission basis, earning more for each policy they successfully sold. The funds collected from victims were funneled into a bank account in Karnataka, rented by Ashish. From there, the money was divided, with Ashish and Jitendra taking the lion’s share.
This gang had previously conducted a similar scam in Ranchi, Jharkhand, earlier in the year, before relocating to Noida. Authorities estimate that the group generated over Rs1 crore from their fraudulent activities.