Police are on the lookout for a gang of 12 conmen, who posed as Income Tax Officials and ‘raided’ the house of a cotton trader in the city yesterday. They allegedly made off with a large booty of money and gold ornaments.

According to police, the gang entered the house of Basheer in Singanallur, on the pretext of conducting an income tax raid early yesterday. They opened an alimrah and found a locker, which could not be opened. The gang then asked Basheer to accompany them and left in two waiting cars, police said.

However, Basheer was dropped at the National Highway in Neelambur, while they fled from the area, police said.

Basheer lodged a complaint with the police claiming that the box contained Rs 40 lakh and 150 sovereign of gold jewellery. However, police are carrying out an inquiry to ascertain the actual amount and jewellery, they said.