Emu scam: Three get 10 yrs for cheating investors in TN

A court here on Thursday sentenced three people to 10 years imprisonment for duping 110 investors to the tune of Rs 2.72 crore in an Emu farm scam in 2012.

The judge of the special court for trial of cases under the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997, A S Ravi awarded 10 years of simple imprisonment to the three, who ran the farm, and slapped a fine of Rs 2.47 crore, meant to be distributed among the investors.

Those who invested in Sruthi Emu Farms in Erode ditrict had approached the Economic Offence wing against the trio for cheating them by promising more interest on their investments in Emu rearing.

Subsequently, police arrested three people, including Yuvaraj, President of Kongu Peravai.

Yuvaraj is the prime accused in the murder of a dalit youth in Namakkal district a few years ago, reportedly an honour killing and is lodged in Madurai Central prison.

A case was registered against the firm and the trio under IPC sections 120 (b) (criminal conspiracy), 406 (criminal breach of trust), 420 (cheating) and Section 5 of the TNPID Act. PTI NVM ROH ROH

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