New Delhi, Dec 14 (IANS): Delhi Police have arrested three miscreants for defrauding people in the name of policies and dubious investment schemes, an official said here on Tuesday.

According to the official, a complaint was lodged by one Arjun Kumar stating that he was defrauded on the pretext of providing overdraft limits against life insurance policies and the complainant transferred Rs 11.44 lakh in the alleged accounts given by the fraudsters.

Based on the complaint, the police registered an FIR under sections 406, 419, 420 and 120B of the Indian Penal Code at the Crime Branch police station.

A police team was constituted which obtained the details of all the seven alleged beneficiary bank accounts involved in this case.

"Surveillance was mounted on suspected persons and on December 7 one accused Abhay Kishor was apprehended from Mohan Garden, Uttam Nagar," the official said.

Thereafter, the accused was interrogated at length who revealed that he worked in connivance with one Sunil Bedi and Anil Kumar under of kingpin Kuresh. Both Sunil and Anil were also arrested by the police.

The policemen made efforts to nab Kuresh, however, during a raid, it was found that he died in a road accident, earlier in March.

During interrogation, accused Abhay Kishor revealed that he used to call random people and pitched them for overdraft limit against their life insurance policies, new policies, and investment schemes.

He further disclosed that accused Kuresh used to take accounts and SIM cards from Sunil and Anil respectively. The official informed that accused Anil used to provide SIM cards in his name for Rs 2,000 each to accused Kuresh.

During the raids, the police have recovered four mobile phones, as many SIM Cards, one ATM/Debit Card of a private bank and Rs 2.06 lakh Debit Freeze.