CBI searches premises of LIC officials

CBI today carried out searches at the houses and offices of four officers of the LIC and three directors of a private firm over their alleged role in a scam.
"We have carried out raids at eight places of the four LIC officers and three places of directors of Machmen Motors," a top CBI officer said.
"We recovered some incriminating documents regarding the fraudulent payments during the raids," he said.
The LIC officials allegedly made fraudulent payments under various heads such as agent commission to the directors of Machmen Motors. The money, a total of Rs 2.4 crore, was disbursed through National Electronic Funds Transfer (NEFT) in March 2016.

"We found that LIC officials and directors of Machmen Motors were hand-in-glove," he said.
A case of cheating (section 420) and criminal conspiracy (section 120B) of IPC and also for offences under the Prevention of Corruption Act has been registered.