An Inspector of Police of the Greater Chennai Police has been placed under suspension following an inquiry into allegations of her involvement in a ₹20-crore gold coin investment scam.Investigators said in 2023, Prabhumani, a relative of Sheela Mary, an Inspector attached to the Royapuram All-Women police station, launched an investment scheme through a WhatsApp group. The scheme allegedly offered gold coins at rates lower than the market price and promised monthly returns to investors. A company was reportedly set up to facilitate the operation.According to the probe, Ms. Mary allegedly promoted the scheme among police personnel and persuaded several officers and their family members to invest in it. Among those who reportedly invested were residents of police quarters in north Chennai, as well as a Deputy Commissioner, an Assistant Commissioner, and numerous police personnel.Officials alleged that Prabhumani, accompanied by the Inspector in her official vehicle, initially distributed gold coins at discounted rates to investors. This reportedly boosted confidence in the scheme and encouraged more people to invest. However, after collecting large sums of money, the organisers allegedly failed to deliver the promised gold coins or pay the assured returns.The Economic Offences Wing (EOW) registered a case based on a complaint from a bank employee who alleged that he had been cheated. Investigators claimed Prabhumani and Ms. Mary had collected over ₹20 crore from investors through the scheme and subsequently defrauded them. The case was registered under the supervision of EOW Superintendent of Police Kanageswari, and Ms. Mary’s name was included in the FIR.Prabhumani was arrested on June 11 and is currently being questioned by investigators. Ms. Mary was also interrogated by the Economic Offences Wing as part of the ongoing investigation. Published - June 15, 2026 06:27 pm IST