Cancer insurance fraudster jailed for six years over £1.8m scam

Received £1.2m from protection policy

John Brazier
clock • 3 min read

A former investment banker has been sentenced following a fraudulent cancer claim on a life insurance critical illness policy and an investment scam, totalling nearly £2m.

Rajesh Ghedia, 42, was sentenced to six years and nine months in prison at Southwark Crown Court on 17 June and will now be subject to confiscation proceedings. Having taken out a life insurance policy, which included critical illness cover valued at £1.2m should he be diagnosed with a terminal illness, in March 2017, Ghedia also signed up to a number of pension schemes that would provide access funds in the event he be given less than 12 months to live. In October 2022, Ghedia made contact with one of the pension plan providers stating that he had been diagnosed with pancreatic cance...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Failed financial advice firms tracker

Failed financial advice firms tracker

Firms that the FSCS has confirmed as failed since the start of 2023

Professional Adviser
clock 16 March 2026 • 1 min read
Administrators appointed at alleged £23m unauthorised investment scheme firm

Administrators appointed at alleged £23m unauthorised investment scheme firm

FCA issued High Court proceedings against Concept Capital Group last year

Jen Frost
clock 13 March 2026 • 2 min read
Advice firm and alternative investment fund manager declared in default

Advice firm and alternative investment fund manager declared in default

Chancery Partnership and MCI Global Investment Advisors

Jen Frost
clock 09 March 2026 • 2 min read