Trio held for cheating people with fake insurance scheme

The accused, M Karthik alias Kamalraj (36), V Manikandan (28), Kaviarasan (22), were working together in a private insurance company before they decided to start their own ‘business’, said Foreshore Estate police, who arrested the trio.

The modus operandi of them is to make random calls to people promising them loans. After collecting the documents from them, they would make the customers wait for a few days before telling them that the loan was approved.

Later, they will tell the customers to get an insurance policy to complete the process and demand Rs 30,000 to Rs 1 lakh depending on the loan amount.

After receiving the amount, they used to promise the customers that the loan will be sanctioned within a week or two and block their contacts.

After the Foreshore Estate police received a complaint of cheating by the trio, a hunt was launched and the main accused Kamalraj was arrested at his house on Bajanai Koil Street in Vadapalani. Based on his inputs, the other two accused from Vellore too were nabbed.

During the investigation, the trio reportedly admitted that they had recently set up an office on Anna Salai to continue their business.

Expensive cell phones and Rs 60,000 in cash were also retrieved from the trio, who have been booked under various sections and remanded in judicial custody.