A school turned around by a "superhead" is being investigated over attendance figure "irregularities", police said.
Dame Maureen Brennan was credited with taking Hillcrest School, in Netherton, Dudley, out of special measures.
However, allegations are now being investigated into whether registers were altered to show pupils were in lessons when they were not.
Dame Maureen's husband said she would not be commenting until the fraud investigation had finished.
Dame Maureen left the school last year to take over a post at another school in the West Midlands.
Dudley Education Authority said the allegations related to records kept when Dame Maureen was in charge.
Attendance figures
Dame Maureen took over the job of head teacher at the failing school in 2000.
She led it out of special measures and later Ofsted inspectors described her as "outstanding".
She was honoured in the June 2005 Queen's Birthday Honours List in recognition of her work at Hillcrest.
A West Midlands Police spokesman said he could not comment on Dame Maureen specifically.
However, he said: "An economic crime team is looking into allegations of irregularities concerning attendance figures at Hillcrest School and Community College."
Dudley Metropolitan Borough Council children's services spokeswoman Elizabeth Walker confirmed an investigation was taking place.
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