The Economic Offences Wing (EOW) of the Chennai police has registered a case against a woman police inspector in connection with a ₹20 crore gold coin investment fraud. The investigation has intensified following the arrest of the scheme's promoter. Officials are probing allegations that the inspector actively promoted the investment scheme and collected money from investors, including police personnel and their families.
Scheme Details and Allegations
According to police, Prabhumani, a relative of inspector Sheela Mary of the Royapuram all-women police station, introduced an investment scheme through a WhatsApp group in 2023. The scheme promised gold coins at prices below the prevailing market rate and assured monthly returns. A company was also established to operate the scheme. Police allege that inspector Sheela Mary promoted the scheme among personnel serving in the Chennai city police and encouraged investments.
During the initial stages, Prabhumani, accompanied by inspector Sheela Mary in her official vehicle, distributed gold coins at discounted prices, boosting public confidence and attracting more investors. However, after collecting large sums of money, the organizers failed to supply the promised gold coins or provide the assured returns.
Legal Action and Investigation
Following a complaint lodged by a bank employee who claimed to have been cheated, the EOW registered a case. Prabhumani and inspector Sheela Mary were arrested on Thursday and are being interrogated. Meanwhile, Chennai city commissioner of police, A Amalraj, ordered a separate departmental inquiry into the complaints against inspector Sheela Mary.
Background of the Reporter
Selvaraj Arunachalam, known as Crime Selvaraj, is a veteran journalist with over 31 years of experience in crime reporting. He has covered major events such as the deaths of former Tamil Nadu Chief Ministers Jayalalithaa and M. Karunanidhi, the IPL betting scam, and the Kanchi Seer Sankararaman murder case. He has also acted in films and authored a poetry collection.
