Ghaziabad, Jun 3 (IANS): A fake insurance policy gang operating here was busted in a joint operation by Gautambudh Nagar and Ghaziabad police and 15 persons - including three women - who had duped over 500 people in Uttar Pradesh and various states, arrested, a police officer said on Sunday.

"The accused persons were arrested on Saturday night when a joint team of Gautambudh Nagar and Ghazibad police raided an office namely 'NCR Insurance Policy' in Indirapuram area and arrested the 15 accused. 36 mobile phones, 28 debit cards, over Rs 6 lakh and other documents were recovered from the spot," Senior Superintendent of Police, Gautambudh Nagar, Vaibhav Krishna said.

The accused persons were identified as Sonu, Vickey, Rakesh, Prince, Ravi Kumar, Mohd Kasim, Anis Mirza, Suryakant, Siprince, Sohaib, Sanjay and Kapil, while the three women, who worked as telecallers, were identified as Renu Chaudhary, Nisha and Rachna, he said, adding all are residents of Ghazibad and Delhi.

"During investigation, the accused persons disclosed that they duped over 500 persons by luring them to invest in the share market, in lucrative insurance policies and also offered a loan scheme. They gave forged bank accounts details to victims to cheat them," he added.

According to the SSP, one of the victims, Harjeet Singh of Punjab, had filed a complaint against the gang with Gautambudh Nagar police after being duped by a "profitable" LIC policy they issued to him.