Coimbatore Investor Welfare Court imposed a fine of Rs.1.20 crores and 10 years imprisonment to Emu poultry farm owner
Coimbatore: Coimbatore Investor Welfare Court has passed on a sensational verdict on the Emu poultry fraud case. The verdict stated that the owner of the poultry farm will pay an amount of Rs.1.20 crores fine and will be imprisoned for 10 years.
Mathi Emu Farms was launched in 2012 in Perundurai, Erode and announced attractive schemes on Emu Farming. A case was filed at the Economic Crime Branch stating that the owner fled with the invested amount. The Police Ddepartment was on the lookout and arrested Thangavelu, the owner of the poultry farm who absconded with an amount of Rs. 1,33,87,500, invested by around 51 investors.
Special Court Judge, Ravi sentenced Thangavelu today with 10 years of imprisonment and a fine of Rs 1.2 crore. Dhanasekaran who was included in the case was acquitted later.
Mathi Emu Farms was launched in 2012 in Perundurai, Erode and announced attractive schemes on Emu Farming. A case was filed at the Economic Crime Branch stating that the owner fled with the invested amount. The Police Ddepartment was on the lookout and arrested Thangavelu, the owner of the poultry farm who absconded with an amount of Rs. 1,33,87,500, invested by around 51 investors.
Special Court Judge, Ravi sentenced Thangavelu today with 10 years of imprisonment and a fine of Rs 1.2 crore. Dhanasekaran who was included in the case was acquitted later.