IME Life New

Australia: Man arrested for embezzling Rs 55 million in insurance for fake car accident

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Global College
Nepal Life New

Kathmandu. A man has been arrested in Australia for claiming insurance for a fake car accident and taking more than Rs 5.5 crore.

A team from Australia’s Campsey Policy Area arrested a 66-year-old man who managed to launder millions of insurance money from Sydney airport. However, the police did not reveal the identity of the person, saying the investigation would be affected.

Crest

The insurance company had lodged a complaint with the police after the insurance claim made by the man was found suspicious. Based on the complaint, the police arrested the man.

From 2019 to 2022, 45 vehicles were damaged in 16 accidents in Catebury-Bankstown, police said. According to the preliminary investigation of the police, third parties were insured on the fake identity cards of the vehicles damaged in these incidents. Later, insurance claims were made that the vehicles collided with parked vehicles.

A total of $390,000 (about Rs 5.5 crore) was claimed by the insurance company. Insurance companies have already paid for these claims.

The police investigation revealed that the insurance claims were found suspicious and they received payments from companies in the name of fake accidents.

The man was kept at the Makst police station. He has been charged with financial offences. He was produced before a local Court in Baxtown and further investigation is underway, police said.

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