A woman police inspector attached to the Royapuram All Women Police Station in Chennai has been suspended following allegations linked to a ₹20-crore gold coin investment fraud case. The action came after an investigation by the Economic Offences Wing (EOW) into complaints from investors who claimed they were cheated through an investment scheme.
According to investigators, the scheme allegedly promised gold coins at prices below market value along with attractive monthly returns, encouraging large numbers of people to invest. Authorities believe more than 200 investors may have been affected.
Police said the scheme was reportedly promoted through personal networks and gained trust after initial investors received promised benefits in the early stages. Investigators allege that after collecting substantial amounts, the organisers stopped delivering gold coins and returns.
The EOW registered a case against the alleged promoter and the inspector. One accused has already been arrested, while investigators continue examining financial records and the extent of involvement of other individuals. Departmental proceedings have also been initiated against the suspended officer.
News as Reported.
