Investors allege they lost Rs. 9 crore
The Economic Offences Wing (EOW) of the police on Thursday arrested C. Shankar (32), promoter of Perundurai-based Suvi Emu Farms and Rathi Poultry Agro Farms and six of his employees on charges of cheating.
A large number of people had invested in the phoney schemes floated by Shankar and lodged police complaint.
The others arrested are P. Suresh (32), the manager of his farms, and employees Anandan (35) of Perumanallur, Jeeva (25) of Sivagiri, Chandran (30) of Vadugapatti, Kalaivanan (24) of Kangayam and Sudhakaran (25) of Perundurai.
Police sources said that the two farms had advertised heavily promising lucrative returns on contract farming of emu and poultry birds.
The EOW had received 361 complaints against Suvi Emu Farms and revenue officials, over 3,800. The investors alleged that they had been swindled to the tune of Rs. 9 crore.
The police had received 70 complaints against the Rathi Poultry Agro Farms.
The arrested were produced before the Tamil Nadu Protection of Interests of Depositors Act Court in Coimbatore and have been sent to judicial custody.