Three men have been arrested for allegedly duping several two-wheeler owners in the city by selling fake vehicle insurance policies to them, a senior police official said Wednesday.
A preliminary probe by the police has revealed that the accused have so far sold over 800 bogus insurance policies in the city, the official said.
Based on a complaint lodged by one of the victims in the case, a police team raided the office of 'One Point Solutions General Insurance' at Lower Parel in central Mumbai on Tuesday.
While two accused- Prashant Sutar (25) and Innayat Bodraker (39), top office-bearers One Point Solutions, were arrested from Belgaum in Karnataka on Tuesday, its supervisor Gajanan Patil (28) was held from Mumbai on the same day, he said.
"During the raid, police seized 306 fake insurance policies of different companies and some other incriminating material," the official said.
"During the investigation, it came to light that Sutar and Bodraker were based in Balgaum and operating the business from there. Accordingly, a police team was sent to the southern state and a raid was conducted at the company's office in Mumbai," he said.
A case under IPC sections 420 (cheating), 465 (forgery), 467 (forgery of valuable security, will, etc) and others has been registered at N M Joshi Marg police station.