4 convicted of Rs 1.35-cr insurance fraud

A CBI court convicted two insurance company officials and others in an insurance fraud worth Rs 1.35 crore in Ludhiana from July 1997 to August 2006.

Gagandeep Narang, 58, Assistant LIC Unit-II Ludhiana, and Suresh Kumar Lohan, 67, Senior Branch Manager LIC, Divisional Office Karnal, were sentenced to two years’ and one year’s jail respectively, along with fines. Chandi Ram and Rajpal Singh received six months’ imprisonment and Rs 5,000 fines each for criminal conspiracy. Accused Buta Ram Narang and Kamla Devi were acquitted of all charges.

Gagandeep Narang and Suresh Lohan were later dismissed from service. Lohan was convicted in two more fraud cases, Public Prosecutor Anmol Narang said.

It was alleged in the FIR that during July 1997 to August 2006, a fraud was committed at Unit-2 Branch of LIC of India, Ludhiana, by Gagandeep Narang, Assistant LIC Unit-2 Ludhiana; Suresh Kumar Lohan, Senior Branch Manager LIC Divisional Office Karnal; and others. They entered into a criminal conspiracy, causing a wrongful loss of Rs 1.35 crore to LIC.

Upon completion of investigation, a chargesheet was filed against the accused under Sections 120-B r/w 420, 467, 468, 471 and 201 IPC; 13(2) r/w 13(1)(d) of the PC Act; and Section 66 of the IT Act.