Five persons including a woman were booked on the charge of operating a firm dealing in providing insurance cover and escaped with Rs 25 lakh of the victims.The firm operated for around four years in MP Nagar area of Bhopal.
According to the MP Nagar police, in the month of Sept 2015 the victim Kailash Malviya of Mandideep lodged a complaint with MP Nagar police that Sugma Insurance Company shut its operation and escaped with the insurance premium deposited by him.
The company was operational in MP Nagar zone 2 which was found closed in the investigation and after the preliminary investigations were conducted a case of fraud was registered against the company operators. The police have registered a case under section 420 of the IPC and have started further investigation. A case against Manish Prasad, Rajni Prasad, Sunil Kumar Sahu , Gorelal Ranawat and Rammurthi Sharma was registered who went missing after closing the company in 2014.
Investigating Officer ASI OP Meena said that the company lured the victims of providing tour packages and making the money double in period of 3-5 years. They used to provide accident insurance of Rs 1 lakh for five years and most of the victims purchased the insurances due to different benefits.
The complainant used to work as agent for the company and has deposited around Rs 11 lakh. In the initial investigation it was found that there were around 350-400 victims and most of the victims are from Mandideep area.