Lucknow, April 1: The Central Bureau of Investigation (CBI) has apprehended Samir Joshi, a declared fugitive, in connection with a financial fraud case involving the Life Insurance Corporation of India (LIC). Officials announced the arrest on Wednesday.
According to reports, the CBI registered the case based on a complaint received from LIC, Lucknow, on August 13, 2012. The complaint alleged that Joshi created fake checks for fraudulent insurance policies, leading to significant financial embezzlement.
Investigators revealed that these checks were issued in the names of policyholders who did not exist. This scheme allowed Joshi to misappropriate funds while manipulating government records to conceal the fraud.
Officials noted that financial irregularities amounting to ₹6,37,66,660 occurred between February 2006 and August 2010 at the LIC office in Jankipuram, Lucknow.
Following the investigation, the CBI filed a chargesheet on August 21, 2014, against Joshi and 11 other accused individuals. It was reported that Joshi conspired with Pankaj Saxena, a higher-grade assistant at LIC, to prepare fraudulent checks in the names of Joshi, his wife Anju Joshi, and their employee Jitendra Kumar.
Furthermore, it was disclosed that approximately ₹62 lakh obtained from these fraudulent transactions was cashed and distributed among the conspirators.
Initially, Joshi was arrested during the investigation but later received bail. However, he violated the bail conditions and remained at large for several years. Officials confirmed that he was officially declared a ‘fugitive’ on December 24, 2025.
Acting on new intelligence, the CBI traced Joshi’s location and arrested him on March 31 at a metro station in Lucknow. Following his arrest, Joshi was presented before the relevant trial court on Tuesday, which remanded him to judicial custody.
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