Madras HC Denies Bail to Suspended Royapuram Inspector in Rs 20 Crore Gold Scam

The Madras High Court on Monday dismissed an anticipatory bail petition filed by suspended woman police inspector Sheela Mary, who was attached to the Royapuram All-Women Police Station, in connection with her suspected involvement in a ₹20 crore gold coin investment scam.

Justice C Kumarappan refused to entertain the bail application filed by the suspended inspector and dismissed the petition. Sheela Mary has been named as an accused along with the promoter of the scheme in a First Information Report (FIR) registered by the Economic Offences Wing (EOW) of the Tamil Nadu police.

According to the prosecution, the case was registered based on a complaint lodged by a bank employee. The complainant alleged that he was cheated of his money after investing in the fraudulent venture.

The investment scheme was initially floated in 2023 through a WhatsApp group. The promoters of the venture lured investors by promising them gold coins at rates below the market value, along with attractive monthly returns. A company was also reportedly established to operate the fraudulent investment scheme.

The venture attracted numerous investors from various backgrounds. Among those defrauded were several serving and retired police personnel, their family members, and senior police officers, all of whom had invested their money in the venture.

The Economic Offences Wing of the Tamil Nadu police is currently investigating the ₹20 crore scam. As part of the ongoing investigation, police arrested the promoter of the scheme, Prabhumani, on Thursday.

With the High Court denying her pre-arrest bail, the suspended woman inspector remains a key accused in the multi-crore fraud case.