Chennai, June 15: A female police inspector stationed at the all-women police station in Royapuram, Chennai, has been suspended for her alleged involvement in a gold coin investment scam. The fraud is estimated to have defrauded over 200 investors of approximately ₹20 crore.
The Economic Offenses Wing (EOW) is intensifying efforts to locate and arrest the accused officer, Sheila Mary. The EOW is also investigating the financial transactions linked to this alleged fraud.
Reports suggest that the scam was associated with a scheme promising investors gold coins at prices significantly lower than the current market rate. Participants were assured of substantial returns, leading many, including police personnel, to invest large sums.
Investigators have indicated that the scheme was allegedly run by Sheila Mary’s relative, Prabhu Mani, who has already been arrested and is currently in judicial custody.
Initial investigations reveal that around ₹20 crore was collected from investors through this scheme.
Authorities stated that the fraud came to light when investors complained about not receiving the promised gold coins. As concerns grew, the organizers reportedly became unreachable, prompting victims to contact law enforcement agencies.
Based on the complaints received from investors, the EOW filed a case against both Prabhu Mani and Sheila Mary.
During the investigation, the Chennai police’s intelligence wing was instructed to conduct a separate inquiry into the allegations against the inspector.
Sources indicated that the investigation report contained sufficient evidence for disciplinary action. Based on these findings, Chennai Police Commissioner Amalraj ordered departmental action against Sheila Mary.
Subsequently, the Joint Commissioner of Police for North Chennai, Manoharan, issued an order to suspend the inspector until the completion of further investigations.
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