In another such incident of insurance fraud, the owner of a jewellery shop in Belagavi has been arrested for staging a fake burglary at his own store and filing a false police complaint claiming a theft worth ₹65.95 lakh.
The accused, Krishnanand Vernekar, the owner of V.P. Vernekar & Sons Jewellers in Ramdev Galli, was arrested by Khade Bazaar Police after a search revealed major inconsistencies in his complaint.
Shop Owner Filed Theft Complaint
According to police, Vernekar had approached the authorities claiming that unidentified thieves had broken into his jewellery shop and stolen gold ornaments, silver articles, and cash worth nearly ₹65.95 lakh.
Police were notified of the alleged burglary from the complaint, the police said.
Investigation Exposes the Truth
Police identified several suspicious aspects in the jeweller’s account of events during the investigation, they said. Police reviewed the evidence and interviewed the complainant and found that the shop owner had orchestrated the theft, they said.
In the end, investigators found that Vernekar had removed the goods from his own shop and filed a false complaint, perhaps to claim insurance.
Gold and Cash Hidden in Scooter
Police recovered the stolen valuables from the accused's own scooter, where they had been concealed.
During the operation, officers seized:
519.8 grams of gold jewellery worth ₹62,60,990, 31 grams of silver ornaments worth ₹6,000, cash amounting to ₹2,83,010, and a scooter valued at ₹45,000, allegedly used to hide and transport the valuables.
The total value of the seized property is about ₹65.95 lakh.
Police Register Case
Following the recovery, the Khade Bazaar Police arrested the accused and registered a case. Further investigation is ongoing to find out if anyone else was involved in planning or executing the alleged fraud.
Officials are also expected to review the insurance-related documents as part of the investigation.
Insurance Fraud Under Scanner
The incident is just the latest episode of insurance fraud in which false theft or damage claims are made to obtain financial compensation. Police have said an extensive investigation is conducted before such complaints are accepted, and the filing of false complaints is a punishable offence under the law.
Belagavi police were praised for their swift investigation, which uncovered the alleged fake theft before any insurance claim could be processed.
