The special court for the trial of cases registered under the Tamil Nadu Protection of Interests of Depositors (TNPID) Act in Coimbatore on Tuesday sentenced the proprietors of an Erode-based emu firm to undergo 10 years of rigorous imprisonment for cheating several people of ₹ 1.02 crore.
Special Judge A.S. Ravi awarded the punishment to M.S. Guru alias Gurusamy (39) and M. Girimurugan from Erode.
According to the Economic Offences Wing (EOW-II) of Erode district, the two ran a firm namely G1 Emu Zone India Pvt Ltd.
The company offered different schemes involving the rearing of emu chicks, promising higher returns to investors.
The firm cheated 37 investors of ₹ 1.02 crore. The EOW registered a case against the firm, Gurusamy, Girimurugan, and two others namely G. Suseela and P. Lingasamy in 2012 based on a complaint lodged by L. Gunasekaran of Lingappa Chetty Street in Coimbatore.
A special team investigated the case and the court pronounced the judgement on Monday after the trial. The court acquitted Suseela. According to the EOW, Lingasamy died in April 2012.
The court slapped a total fine of ₹ 72 lakh on Gurusamy and Girimurugan, out of which ₹ 70 lakh has to be distributed among the investors, except the 10 persons whose dues were settled outside the court.
The court issued non-bailable warrants against Gurusamy and Girimurugan who did not appear before the court when the verdict was pronounced on Tuesday.
In September, court had sentenced Gurusamy to undergo 10 years of imprisonment for duping customers of ₹ 2.39 crore through another company namely Susi Emu Farms India Private Limited based at Perundurai inErode.
Convict surrenders
A man from Erode who was convicted in an emu scam in August this year surrendered before the special court in Coimbatore on Tuesday.
The convict was identified as S. Tamizhnesan (34) from Thiruvenkitampalayampudur near Perundurai. The court on August 5 had awarded 10 years of imprisonment to Tamizhnesan and two others for cheating 121 people from Salem, Erode, Namakkal and other districts of ₹ 2.70 crore.
The court had issued a non-bailable warrant against Tamizhnesan as he did not appear before the court when the judgment was pronounced.
The other two convicted by the court are S. Yuvaraj (41), an accused in a honour killing case, and C. Vasu (52). The three men cheated investors through their firms Suthi Emu Farms, Suthi Emu Farms Private Limited and Suthi Emu Farms and Hosieries at Perundurai.
