The Coimbatore Court sentenced 4 members of the same family for 10 years in jail for scamming many people under the Emu farming scheme!
Coimbatore: The Coimbatore Court in their verdict yesterday sentenced 4 members of the same family to 10 years in jail time each. The accused have scammed thousands of people under the name of Jai Emu Farming.
The 4 family members Ranjith Kumar (33) his wife Radha from Sasthri Nagar (30), her brother Raja (30) from Katheri area in the year 2012 have opened an Emu farm (Jai Emu Farming) in the year 2012.
The company scammed the investors by saying that the setting to grow the birds and other expenses for food and medicine will be issued on behalf of the company.
The company also said that they will provide 5,000 every month to help the investors and around 7,000 rupees for people joining the VIP plan. It was also promised that rupees 25,000 will be given as an annual bonus.
The investors were asked to pay around 1 lakh 50 thousand for 6 Emu's and that the initial amount will be deposited back to the investors after an year.
Following this, public around Erode, Salem and surrounding areas actively invested in Emu farming. A total of 173 people deposited and a total amount ₹2,33,27,500 were compleated by the accused scammers.
After sometime Selvaraj (42) from Omalur,Salem filed a complaint at the Salem Financial Crime Unit in the year 2012 against the Jai Emu Farming.
The police arrested the 3 members who were later given bail. The case which was ongoing at the Coimbatore Tanfit Court reached a verdict.
The case after all the hearings sentenced the accused to 10 years imprisonment for each member. He also awarded the 3 accused a fine of 1,29,75,000 INR.
The court also ordered the accused to pay around 1 crore 28 lakhs to the investors who were defrauded of their money.
Another similar scam by two other companies namely Abi Emu Farms and Agro Farm Company happened in Salem. The already accused Ranjit Kumar, Raja and his wife Sasikala (30) scammed the public of around 5,62,63,550 rupees. The court came up with the final verdict and awarded 10 years of jail time to the accused. The court has also ordered a sum of 1,12,20,000 rupees to be paid back to the investors.
The court has ordered the accused to complete theirentire jail time and an arrest warrant is out for Sasikala who fled the city.
The 4 family members Ranjith Kumar (33) his wife Radha from Sasthri Nagar (30), her brother Raja (30) from Katheri area in the year 2012 have opened an Emu farm (Jai Emu Farming) in the year 2012.
The company scammed the investors by saying that the setting to grow the birds and other expenses for food and medicine will be issued on behalf of the company.
The company also said that they will provide 5,000 every month to help the investors and around 7,000 rupees for people joining the VIP plan. It was also promised that rupees 25,000 will be given as an annual bonus.
The investors were asked to pay around 1 lakh 50 thousand for 6 Emu's and that the initial amount will be deposited back to the investors after an year.
Following this, public around Erode, Salem and surrounding areas actively invested in Emu farming. A total of 173 people deposited and a total amount ₹2,33,27,500 were compleated by the accused scammers.
After sometime Selvaraj (42) from Omalur,Salem filed a complaint at the Salem Financial Crime Unit in the year 2012 against the Jai Emu Farming.
The police arrested the 3 members who were later given bail. The case which was ongoing at the Coimbatore Tanfit Court reached a verdict.
The case after all the hearings sentenced the accused to 10 years imprisonment for each member. He also awarded the 3 accused a fine of 1,29,75,000 INR.
The court also ordered the accused to pay around 1 crore 28 lakhs to the investors who were defrauded of their money.
Another similar scam by two other companies namely Abi Emu Farms and Agro Farm Company happened in Salem. The already accused Ranjit Kumar, Raja and his wife Sasikala (30) scammed the public of around 5,62,63,550 rupees. The court came up with the final verdict and awarded 10 years of jail time to the accused. The court has also ordered a sum of 1,12,20,000 rupees to be paid back to the investors.
The court has ordered the accused to complete theirentire jail time and an arrest warrant is out for Sasikala who fled the city.