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United India Insurance officer swindles crores

United India Insurance officer swindles crores
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In a startling revelation the Vigilance Department has reportedly found swindling of crores of insurance money by an officer of the United India Insurance Co Ltd (UIICL) divisional office, here, in collusion with his own men as agents in several branches of the insurance firm. The probe has been quietly going on for the last two years.

Nellore: In a startling revelation the Vigilance Department has reportedly found swindling of crores of insurance money by an officer of the United India Insurance Co Ltd (UIICL) divisional office, here, in collusion with his own men as agents in several branches of the insurance firm. The probe has been quietly going on for the last two years. An anonymous person has given a tip-off regarding the swindling to HMTV-The Hans India.

  • Floats fictitious milk dairy farm
  • Claims that its animals perished
  • Submits bogus post-mortem reports to claim insured sum
  • Appoints his own relatives as agents
  • Top officials colluded to favour the accused officer
  • They got benefit of promotions
  • Attempts being made to weaken vigilance probe report

The accused officer got a fictitious dairy farm insured in 2012-13 through agents who were his own relatives. Later, he claimed that the dairy farm animals had perished one after another. He even submitted post-mortem reports. The company paid Rs 2 crore as the insured amount for a non-existent dairy farm! Even the three-stage inquiry reports have been found to be fakes.

His own handpicked agents (close relatives in place of genuine agents, who were removed), surveyors and top officials of the Insurance Company, all in collusion have shown in their reports that the damage suffered by the dairy was real. As a reward these officials were said to have benefited with promotions. He had even ensured that the agent system in the district was weakened.

The officer also claimed insurance amounts running into crores of rupees after allegedly floating several fake factories and organisations, according to information reaching the Central Vigilance Commission. Irregularities amounting to Rs 40 lakh, which the officer, has allegedly transferred into his own bank accounts, have been confirmed in the preliminary probe.

Supervisory staff in several branches of UIICL was suspected to have colluded with the officer in pocketing huge amounts totalling to Rs 6 crore. It was also alleged that the officer in question resorted to all means for laying his hands on insured amount. Promotion to the district-level post within three years of his joining only emboldened him.

The accused officer is said to be so powerful that already attempts are being made to dilute the Vigilance report. Also, the coterie is claimed to be trying to mislead the officials of the Central Vigilance Commission.

By: Vankadari Narsimhulu

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