Archive · 25 Dec 2025
CBI Secures Jail Terms in LIC Fraud Case
Two people, Braj Kumar Pandey and Manish Kumar Srivastava, were sentenced to five years in jail and fined Rs 12 lakh each for cheating the Life Insurance Corporation (LIC) of India.
They were found guilty of making fake payments under 20 insurance policies in 2003.
The fraud involved creating fake policy records and using the passwords of LIC officials without permission.
The court found enough evidence to convict these two, but not enough to convict two others involved in the case.
The case was investigated by the Central Bureau of Investigation (CBI).
Two persons sentenced to 5 years in jail for cheating LIC of Rs 15.22 lakh in 2003.
Fraud involved creating fictitious policy masters and salary saving scheme errors.
CBI filed a charge sheet in 2007 against six individuals, but only two were convicted.
Two accused were acquitted due to insufficient evidence, and two others died during the trial.
The fraud was carried out by misusing the passwords of LIC branch officials.
- Who
- Braj Kumar Pandey and Manish Kumar Srivastava
- What
- Fraudulent payments under 20 LIC policies
- When
- 2003
- Where
- Gorakhpur, Uttar Pradesh
- Why
- To cheat LIC of India of Rs 15.22 lakh
- Accused Names
- Braj Kumar Pandey, Manish Kumar Srivastava
- Sentence
- 5 years imprisonment
- Fine
- Rs 12 lakh each
- Amount Defrauded
- Rs 15.22 lakh
- Year of Fraud
- 2003
- Number of Policies Involved
- 20
- Court Location
- Lucknow
- Charge Sheet Filed
- January 10, 2007