The Hindu : Tamil Nadu / Chennai News : Gold Quest: gold coins seized from residence of key accused

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Tuesday, May 13, 2008
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Tamil Nadu - Chennai

Gold Quest: gold coins seized from residence of key accused

Special Correspondent

CHENNAI: In a search operation conducted at the residence of the key accused in the Gold Quest multi-level marketing scam, the police seized several pieces of gold coins, a computer and other documents here on Sunday.

Deputy Commissioner of Police (Pulianthope) G. Sampath Kumar and his team raided the eighth floor residential apartment on Ormes Road at Kilpauk. The search lasted over three hours.

Following complaints from the public, Commissioner of Police G.Nanchil Kumaran had directed the police to register a case under the Prize, Chit and Money Circulation Scheme (Banning) Act 1978 and cheating.

As the complainants also hailed from neighbouring Andhra Pradesh and Karnataka, special teams from Andhra Pradesh were also conducting inquiries, the police said.

Speaking to The Hindu, Joint Commissioner of Police (North) M. Ravi said based on the confessions of the accused, the police unearthed Rs.3.5 crore in cash from a locker in a private bank on T.T.K. Road besides gold and silver coins, on Saturday.

The police will inform the Income Tax Department about the seizure of the cash for further action, he said.

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