The Coimbatore special court sentenced the accused with a 10 year-jail sentence and penalty of over one crore in poultry farm fraud case.
Coimbatore: The Coimbatore special court sentenced members who swindled investors of crores of money.
The Country Poultry Farm Company run by Karthika,(24), G.R. Manikandan (27), Murugan (31), S. Prabhu (22), Satish alias Satishkumar, (25), M. Ramasamy (55), Jayachamundeswari (49), Rajendran (49), were identified as convicts in the poultry farm fraud case.
The team had allegedly attracted investors with two special schemes. In the first scheme, at an investment of ₹ 1,00,000, 500 chicks, necessary food and medicines, and a kit to maintain were promised to be provided to the investors. Investors were assured to receive ₹ 8,500 as monthly maintenance,₹ 8.500 as an incentive at the end of the year.
In the VIP scheme, the invested, a sum of ₹ 1,00,000, 3,000 chicks, necessary food and medicine, ₹ 8,500 monthly maintenance, and ₹ 12,000 as an incentive at the end of the year with a three-year contract was promised.
However, the group swindled money from the investors and according to reports they fled with a sum of ₹ 1,55,50,000. Based on the complaint filed by Palanisamy, son of Ramaswamy of Gopi Taluk Koodakarai, Sub-Inspector of Police, Erode District Economic Crime Branch, N. Ponnuswamy, of Nambiyur police station a case was filed under various sections on 12th December 2012.
Murugan, Inspector, Commercial Crime Investigation Branch (in-charge), Erode Economic Crime Branch interrogated the case. A charge sheet was filed on 13.12.2013 and a total of 99 witnesses were questioned in this case. The Coimbatore Special Court Judge Ravi sentenced the accused with 10-year imprisonment and two of the accused were imposed with a fine of ₹ 1,65,60,000 on Tuesday.
The Country Poultry Farm Company run by Karthika,(24), G.R. Manikandan (27), Murugan (31), S. Prabhu (22), Satish alias Satishkumar, (25), M. Ramasamy (55), Jayachamundeswari (49), Rajendran (49), were identified as convicts in the poultry farm fraud case.
The team had allegedly attracted investors with two special schemes. In the first scheme, at an investment of ₹ 1,00,000, 500 chicks, necessary food and medicines, and a kit to maintain were promised to be provided to the investors. Investors were assured to receive ₹ 8,500 as monthly maintenance,₹ 8.500 as an incentive at the end of the year.
In the VIP scheme, the invested, a sum of ₹ 1,00,000, 3,000 chicks, necessary food and medicine, ₹ 8,500 monthly maintenance, and ₹ 12,000 as an incentive at the end of the year with a three-year contract was promised.
However, the group swindled money from the investors and according to reports they fled with a sum of ₹ 1,55,50,000. Based on the complaint filed by Palanisamy, son of Ramaswamy of Gopi Taluk Koodakarai, Sub-Inspector of Police, Erode District Economic Crime Branch, N. Ponnuswamy, of Nambiyur police station a case was filed under various sections on 12th December 2012.
Murugan, Inspector, Commercial Crime Investigation Branch (in-charge), Erode Economic Crime Branch interrogated the case. A charge sheet was filed on 13.12.2013 and a total of 99 witnesses were questioned in this case. The Coimbatore Special Court Judge Ravi sentenced the accused with 10-year imprisonment and two of the accused were imposed with a fine of ₹ 1,65,60,000 on Tuesday.