New Delhi, Nov 21 (PTI) A 29-year-old man was arrested for allegedly duping people on the pretext of reviving their expired insurance policies, police said here on Thursday.

The accused -- Deepak Sharma, was arrested from Utam Nagar on Wednesday, they said.

His associate Shahnawaj was arrested earlier in connection with the case.

The matter came to light on September 9, after a case of cheating was registered at Hari Nagar police station, they said.

The duo operated from an illegal call centre in Hari Nagar and cheated people on the pretext of reviving their expired insurance policies, loan, money investment and tour and travel packages. They got registered two companies with forged documents and opened six bank accounts on fake identities, said Ingit Pratap Singh, Additional Deputy Commissioner of Police (Southwest).

A total of Rs 13.5 crores were deposited in the accounts and around 87 lakh rupees were cheated by the accused from different people, he said.

The accused used various techniques to lure people to invest money in their fake companies on the promise that their money would get doubled in a very short time, the officer said.

In some cases, they informed their targets that a bonus of Rs 1-4 lakh was pending against them with their policy and to dispatch this bonus, they would demand Rs 20000-40000/- to be transferred in certain accounts.

If the victim refused to send the money they threatened him to inform the income tax officials, the officer added.

They also enticed people to become member of their company by offering them privilege cards and gold cards against the sum of Rs 30,000 and 50,000 respectively, the police said. PTI AMP

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