FIA registers case against phony insurers

KARACHI: Corporate Crime Circle Department of Federal Investigation Agency (FIA) on Tuesday registered an FIR against the culprits involved in the fake vehicle insurance business.Sources said that culprits had earned more than Rs25 million through such kind of fake insurance and insured more than 1,500 vehicles.Director FIA Sindh received a letter from Chairman Sindh Accident Welfare Foundation Mujeebuddin, who in his written application informed that FIA should take a notice of fake insurance of the vehicles being continued in the city.

He pointed out that such insurance was not registered by the Security and Exchange Commission of Pakistan, which caused a heavy loss to citizens of Karachi. He also mentioned the group involved in the illegal insurance being made in the fake documents of different companies, including Asian Mutual Insurance Company (AMIC) and other organisations. AMIC GM Marketing Tariq Mahmood had also informed about that mafia and demanded appropriate action against it. – Dailytimes