Coimbatore: A Coimbatore court has sentenced two people from Erode to 10 years in jail and fined them Rs 1.20 crore each for defrauding Emu poultry farmers of Rs 2.5 crore.
Coimbatore: A Coimbatore court has sentenced two people from Erode to 10 years in jail and fined them Rs 1.20 crore each for defrauding Emu poultry farmers of Rs 2.5 crore.
Mohana Sundaram and Kannusamy are from Pattakkaran Palayam area near Perundurai in Erode district. Both of them were running a company called Emu Bounty in the area. The company had introduced two schemes, the Farm Scheme and the VIP Scheme.
The farm project is where one first has to invest one and a half lakh in this company. Once built, they will set up a farm and provide the farmers with Emu chickens and the necessary fodder. They have also given a monthly incentive of Rs. 6,000 and a bonus of Rs. 10,000 per year.
The VIP plan was where the Emu Bounty would take care of everything by themselves from raising chickens and give the investors incentives and bonuses. Many have invested money with Emu Bounty relying on this.
But, it is said that the farm did not give them such things as Emu chickens. When asked about this there was no response. Realizing that they had been deceived, they lodged a complaint with the Erode Economic Crimes Division Police. The police filed a case and investigated. The investigation revealed that they had defrauded 110 people to the tune of Rs 2.5 crore.
Subsequently, they were prosecuted in the Coimbatore Court. Judgment in this case was delivered today. Judge Ravi sentenced Sundaram and Kannusamy for 10 years imprisonment each and fined Rs 1 crore 20 lakh each.
They were ordered to pay a sum of Rs one crore 20 lakh to the customers. The two men involved in the case did not appear in court today. Therefore, the judge issued a warrant for their arrest.