A case of economic offence was registered at Chutia police station by Life Insurance Corporation’s (LIC) Pepee Compound branch on Monday after at least four policyholders alleged that unknown persons withdrew a total of Rs 22 lakh after surrendering fake policy documents.

All the four victims are residents of Ranchi.

The FIR was lodged by LIC’s Pepee Compound branch manager Pawan Bhengra, who noticed the fraud on October 10 when one of the policyholders, Varsha Rani (55), informed him about the irregularities.

Chutia OC Anil Karan said Varsha Rani had gone to the LIC office in Calcutta on October 1 to deposit her premium, but was informed that her policy had been surrendered and an amount of around Rs 10 lakh withdrawn. “She inquired about the matter at a personal level and lodged a written complaint at the LIC branch on October 10,” Karan said.

The LIC brought to the notice of police that as many as three other policyholders had fallen victim to the fraud. “We have asked for documents and details of aggrieved policyholders. Initial inquiry has begun,” Karan said.

A policeman said the offenders had opened an account (708202010003907) at Argora branch of Union Bank of India in Varsha Rani’s name.

“Fake documents were used to open the account. Policy papers were also forged to withdraw money. We have to investigate the source of leak of confidential LIC info. We are examining the account opened for this scam. We don’t rule out involvement of LIC staff,” the cop said.