The Economic Offences Wing will take steps to freeze the assets of emu farming promoters and their relatives to recover investments made by the public in the business, Superintendent of Police P.R. Venmathi said here on Tuesday.
The police have prepared a list of emu farming promoters and their relatives and sent it to Registrars [of Land Registration Department] in all districts to identify the assets and freeze them, she said after reviewing the progress of the investigation into the multi-crore emu investment scam in the district.
The wing is also analysing the bank accounts of the emu promoters.
“We will take concrete steps to recover the investment made by the people in the emu farming,” she said.
The Economic Offences Wing police on Tuesday raided the office premises of Queen Emu Farms and arrested office staff Anbazhgan of Udumalpet.
The police also recovered a computer from the farm.
The raid followed complaints from investors.
So far, the wing has registered cases against four emu firms — Susi Emu Farms, Queen Emu Farms, TVS Emu Farms and Alma Emu farms.
While the EOW has received over 500 complaints against them, police stations across the State have received over 2,500 complaints.
The firms have been accused of swindling about Rs. 100 crore belonging to investors, she said.
Saying that five special teams were formed to nab the emu promoters who went underground after the emu bubble burst, Ms. Venmathi said, the manager of Queen Emu Farms was arrested at Pollachi recently.
“We will nab all those involved in the investment fraud.”
A group of persons, who claimed to have invested in Susi Emu farms, submitted petitions demanding reopening of the firm under the watchful eyes of the government.
They claimed that many of them belonged to poor families and invested in the schemes of Susi Emu Farms by selling their cattle and jewels.
As the income from agriculture was inadequate, they made the investment in the emu farming, which offered lucrative returns.