The Central Bureau of Investigation (CBI) has raided the residence of a branch manager working with an insurance unit of a nationalised bank for cheating the unit of several lakhs in the past few years.
The branch manager is reportedly working in Bulandshahr with the Oriental Insurance Company. CBI sleuths began their raid around 7 am on Wednesday and continued till late night. They have recovered several incriminating property documents and cash worth several lakhs of rupees.
Bhupendra Kumar Chopra,branch manager,lives in KC/E-16 of Kavi Nagar,Ghaziabad,with his family.
A CBI team led by Deputy Superintendent of Police (DSP) Davender Singh conducted raids at the residence followed by the Bulandshahr branch. Officers said raids are still being conducted at five more places,while a hunt is on to nab the accused.
CBI officers said the raid was in connection with a fraud case in a Delhi-based insurance company. The CBI had registered a case against Chopra and two private companies.
Officers said Chopra had fraudulently renewed or issued the insurance policies in favour of the two companies to facilitate claims of Rs 4.41 lakh and Rs 9 lakh respectively,which were later paid to the companies. The accused favoured the companies for commission. We are trying to find out whether he had committed such frauds earlier too, said an officer.
During the raids,CBI officials recovered Rs 7 lakh from his residence,fixed deposit receipts worth Rs 42 lakh,documents of three properties worth Rs 3.5 crore,Rs 4.5 lakh in cash from his bank account and Rs 25 lakh from his locker. Officers said that investigations are on to know about other properties and investments.