Economic Offences Wing (EWO) Police arrested N. Natarajan (42), Managing Director of Kongunadu Emu Poultry Farms, located at Karupannakovil Thottam on the Mohanur Road in Paramathi-Velur Taluk, on Friday for allegedly cheating depositors in that firm to the tune of Rs. 6.89 crore by attracting deposits and not giving them the promised returns.

DSP of EOW R. Subramanian told newsmen here that an FIR was registered against four persons – (claimed to be partners of the firm) Natarajan of Thatharipuram near Puduchatram, Sathyaraj (29) and Devaraj (24) of Kilapalayam and Arivalagan of Kariveppampatti in Tiruchengode Taluk.

Sathyaraj and Devaraj surrenderedon October 5.

“Natarajan moved an anticipatory bail plea in the Madras High Court, which was rejected on October 21.

“We got a tip-off that the accused was in his house in Thatharipuram and was arrested on Friday morning”, he added.

Police said that search is on for Arivalagan.