Home / Crime and Justice / Chennai Cop Arrested for Promoting Investment Fraud
Chennai Cop Arrested for Promoting Investment Fraud
12 Jun
Summary
- Police inspector promoted a ₹20 crore gold coin investment scheme.
- Investors, including police personnel, were allegedly defrauded.
- The scheme promised gold coins below market price with returns.
An investigation into a ₹20 crore gold coin investment fraud has intensified with the arrest of a woman police inspector. The Economic Offences Wing (EOW) registered a case against Inspector Sheela Mary of the Royapuram all-women police station. She is accused of promoting an investment scheme that promised gold coins at prices below market rates and assured monthly returns.
Authorities allege that Inspector Mary, accompanied by her relative Prabhumani, used an official vehicle to distribute discounted gold coins initially, fostering trust among investors. However, after collecting substantial funds, the organizers reportedly failed to supply the promised gold or provide the guaranteed returns. Prabhumani and Inspector Mary were arrested on Thursday and are currently undergoing interrogation by the EOW.
Following a complaint from a bank employee who claimed to be a victim, the EOW initiated the case. Concurrently, Chennai City Commissioner of Police A Amalraj has ordered a separate departmental inquiry into the allegations against Inspector Mary.
