The District Crime Branch had registered a case against the owner, manager and officer-in-charge of a Uthiyur-based private firm dealing with rearing of emu birds for reportedly cheating a host of investors to the tune of a few crores of rupees.
Inspector, DCB, R. Dhanarasu said the case was taken up on a complaint lodged by K. Natchimuthu (70), a resident of Dharapuram, and nine others that they were duped to the tune of Rs. 10 lakh.
The company lured the investors by promising them huge returns on the investments, almost to the tune of 600 per cent, within stipulated periods ranging from six months to two years, he added.
Each of the 10 complainants had invested Rs. 1 lakh.
However, the company did not fufil the promises at the end of the maturity period forcing them to seek the assistance of the police, Mr. Dhanarasu said.
According to the complainants, many others have also deposited in the firm and the total amount siphoned by the firm from the depositors would run into many crores of rupees.