Police arrest ex-Allied employee who conned client, embezzled money

Police have arrested the former employee of Allied Insurance Company of Maldives who is suspected of conning one of his clients by forging one of their policies while still working in the company, and embezzling the money.

The ex-Allied employee arrested by police has been identified by the company as Abdul Basith Thaufeeq – who had worked with the company for four years.

The company said that Basith had used their letterhead and forged one of their hull insurance policies to con the client and embezzle the money.

The issue came to light when the client complained to the company, after which the company summoned both Basith and the client, and questioned them – running an internal investigation into the issue.

Deputy Manager of Allied Insurance, Nazim Habeeb informed “Sun” that Basith had confessed to the offense during questioning, and that he had been immediately fired from his post and the issue brought to the attention of police on May 18.

Basith was arrested on May 22.

Police have confirmed that a 27-year-old man was arrested in connection with the issue. And that court has granted the police a remand period of five days for the man – during which time he will be kept under arrest at a place arranged by Ministry of Home Affairs.

Police said that their investigation so far shows that Basith had embezzled MVR 128,000 by forging Allied insurance policies, which – Allied Insurance says – is the premium of their hull insurance policy.

Allied said that what they noticed through their internal investigation into the issue was that public awareness was low regarding insurance policies. And provided assurances that their policies were completely safe and secure – with minimum chances of forgery.