CHENNAI: A woman police inspector attached to the Greater Chennai Police (GCP) has been booked by the Economic Offences Wing (EOW) in connection with Rs 20-crore gold coin investment scam. The police said they are examining whether the officer played a role in popularising the scheme and mobilising investors.
Sources said the case was registered based on a complaint from a bank employee who alleged that he was cheated after investing in the scheme. The EOW named both the promoter, Prabhumani, and Inspector Sheela Mary of the Royapuram All Women Police Station in the FIR.
According to the police, the investment scheme was floated in 2023 through a WhatsApp group. Investors were promised gold coins at prices lower than market rates along with attractive monthly returns. A company was reportedly formed to operate the venture.
Police suspect the scheme gained credibility because it was promoted within police circles. Several serving and retired police personnel, their family members, and senior officers are believed to have invested substantial sums, sources said.
The police further alleged that gold coins were distributed to some investors during the initial stages, helping build confidence in the scheme and attract more participants. However, after collecting large amounts of money, the organisers allegedly failed to deliver the promised gold coins or returns.
Prabhumani was arrested on Thursday and is being questioned by the EOW. Inspector Sheela Mary has also been questioned as part of the investigation. Chennai City Police Commissioner A Amalraj has ordered a separate departmental inquiry into the allegations against the inspector.
