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Insurance fraud: Indo-Malaysian NGO president gets bail
Insurance Fraud: Indo-Malaysian NGO President Gets Bail. Malaysian Indian Youth Council president Reghu Devan Lopez was granted bail on Thursday in Penang state in a case pertaining to insurance fraud charges.
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Kuala Lumpur: Malaysian Indian Youth Council president Reghu Devan Lopez was granted bail on Thursday in Penang state in a case pertaining to insurance fraud charges.
Lopez, 36, a former insurance agent, was charged with cheating the insurance company, American International Assurance (AIA) between January 2009 and March 2010, The Malaysian Star reported.
He used 14 cheques totalling 907,000 Malaysian Ringgit -- around $242,000 -- as premium paid by one of his clients for insurance policies under the name of 46 fictional individuals.
As a consequence, he received a commission of 253,830 Malaysian Ringgit ($67,880) from AIA.
The Malaysian Indian Youth Council, set up in 1991, is the largest Indian youth-based organisation in Malaysia with over 300 branches across the country.
Lopez has been president of MIYC since 2012.
