The Central Bureau of Investigation (CBI) registered the instant case on 06.01.2010 against the 3 accused
FinTech BizNews Service
Mumbai, 27 February 2026: The CBI Court, Jaipur, has on 26.02.2026, convicted and sentenced three accused namely, Mahendra Kumar Jain, the then Higher Grade Assistant, LIC of India Unit-Il, Kota, Bhupesh Tagore, the then AAO, LIC Branch, Rang Bari Road, Kota and Abhilasha Jain (Private Person) in a Fraud Case, as per a press release issued by the CBI. The accused Mahendra Kumar Jain, has been sentenced to Rigorous Imprisonment for 10 Years with a fine of Rs. 1.46 Lakh; Bhupesh Tagore has been sentenced to Rigorous Imprisonment for 10 Years with a fine of Rs. 1.21 Lakh and Abhilasha Jain has been sentenced to Rigorous Imprisonment for Five Years with a fine of Rs. 1.46 lakh.
The Central Bureau of Investigation (CBI) registered the instant case on 06.01.2010 against accused Mahendra Kumar Jain, the then Higher Grade Assistant, LIC of India Unit-Il, Kota and 02 others on the allegations that Mahendra Kumar Jain, during the period 2006-2008, entered into criminal conspiracy with his wife Abhilasha Jain and Bhupesh Tagore, the then Assistant Administrative Officer (AAO), Life Insurance Corporation of India, Branch, Rang Bari Road, Kota (presently Assistant Administrative Officer, LIC of India, Satellite Office, Aashind, Bhilwara,) and fraudulently and dishonestly prepared/false vouchers/cheques in favour of Life Insurance Corporation of India and deposited the amount of the cheques as premium in the LIC policies of self or his wife Abhilasha Jain or his family members/relatives/known persons and misappropriated a total amount of Rs. 3,92,863 of Life Insurance Corporation of India, thereby caused undue loss to Life Insurance Corporation of India to the tune of Rs.3,92,863 and undue gain to himself and his family members.
After the completion of investigation, CBI filed charge sheet on 06.03.2012 against the accused.
The Hon’ble Court, after the trial, convicted and sentenced the three accused persons accordingly.
