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

FCA to cut red tape for investment firms in bid to streamline regulation

FCA to cut red tape for investment firms in bid to streamline regulation

Volume of legal text cut by 70%

Linus Uhlig
clock 24 April 2025 • 2 min read
Zero cases of non-financial misconduct opened by FCA in two years

Zero cases of non-financial misconduct opened by FCA in two years

A Freedom of Information request has found

Cristian Angeloni
clock 22 April 2025 • 3 min read
Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

Emma Reynolds: Targeted support is 'exciting opportunity' but 'we need to get it right'

‘Need strong consumer protection in place’

Jenna Brown
clock 22 April 2025 • 3 min read