Car insurance providers are monitored extremely carefully by a variety of governing bodies, which means that customers can be safe in the knowledge that they and their vehicles are protected should they be involved in an accident. Most members of the public search around for their car insurance before buying in order to make sure that they get the best price and a suitable policy, however six hundred people were duped by a fraudster in London recently who sold them car insurance that was non-existent.
Danyal Buckharee from Putney, London set up two websites that advertised cheap car insurance, and between May 2011 and April 2012 sold over six hundred policies to unwitting members of the public. He has now been caught and appeared at the Old Bailey being charged with both fraud and money laundering due to the fact that he made over half a million pounds off of false insurance policies according to The City of London Police.
Buckharee was found out after one of his customers was pulled over and accused by police of not having insurance for his vehicle. The driver then complained to trading standards over Buckharee’s company Aston Midshires, which was stated as being situated in an office block in Enderby, Leicestershire, which was also found out to be a lie.
Discussing the case, Detective Chief Inspector Dave Wood, head of the Insurance Fraud Enforcement Department at The City of London Police said: “This is the biggest investigation we undertook in 2012 and I am very pleased that our hard work has delivered the right result, without Buckharee having to go to trial.”
“Buckharee masterminded an extensive car insurance fraud that made him hundreds of thousands of pounds and left hundreds of drivers unknowingly out on the road with no insurance. Buckharee exposed his victims to risk and financial loss but now it is his turn to pay the price of his fraud.” Buckharee admitted at the Old Bailey to two counts of fraud, and three counts of money laundering, however has denied two other counts of fraud which will now lie on file.