Husband and wife sentenced to three years in jail for swindling Rs. 17.68 lakh by running a poultry company
Coimbatore: Coimbatore TANFIT court has sentenced a husband and wife to three years in jail for swindling Rs. 17.68 lakh by running a poultry company. Sellamani (42) is from Pethampalayam next to Perundurai in Erode district. Her husband is Ramalingam (47). Together they started KPRS Poultry Farms in 2016.
In this company, they advertised saying if people invest Rs 1.50 lakh, they will set up a shed and provide 200 country chickens with maintenance cost at the rate of Rs 6,000 per month for 36 months, an incentive of Rs 10,000 per annum and more attractive plans were announced.
Believing this, 9 people invested a total of about 17.68 lakh rupees. However, the cost of maintenance Rs. 6000 as announced and Rs. 10000 incentives were not provided. Following this, Subramanian from Ammapalayam next to Sankagiri lodged a complaint with the Erode Economic Crimes Division Police. Police arrested Sellamani and Ramalingam based on the complaint. The case is being heard in the Coimbatore High Court.
Following the conclusion of the trial, the accused husband and wife were each sentenced to 3 years imprisonment and fined Rs 10.18 lakh. Judge AS Ravi ordered that Rs 10 lakh should be distributed among the investors.
In this company, they advertised saying if people invest Rs 1.50 lakh, they will set up a shed and provide 200 country chickens with maintenance cost at the rate of Rs 6,000 per month for 36 months, an incentive of Rs 10,000 per annum and more attractive plans were announced.
Believing this, 9 people invested a total of about 17.68 lakh rupees. However, the cost of maintenance Rs. 6000 as announced and Rs. 10000 incentives were not provided. Following this, Subramanian from Ammapalayam next to Sankagiri lodged a complaint with the Erode Economic Crimes Division Police. Police arrested Sellamani and Ramalingam based on the complaint. The case is being heard in the Coimbatore High Court.
Following the conclusion of the trial, the accused husband and wife were each sentenced to 3 years imprisonment and fined Rs 10.18 lakh. Judge AS Ravi ordered that Rs 10 lakh should be distributed among the investors.