Coimbatore: Special Court for trials of cases registered under the protection of Tamil Nadu from the 1997 Act Depositor (Financial Institution) on Friday Sentenced by an EMU-based agriculture owner eroded up to 10 years in prison for Rs 1.70 Crore fraud.
C ThangaveLu, 46, from Mettukadau near M Thottipallayam in Erode has launched Agriculture Mathi Mathi in Nadupatti near Vijayamangalam in 2012 with P DhanAsekanan, 36.
Those who invested Rs 1.5 lakh were offered six emu chicks, rs 6,000 per year and hospitals 6,000 bonuses.
Those who invested Rs 2 Lakh in the VIP scheme were offered by Rs 10,000 per month for two years and 6,000 annual bonus Rs.
Investors are told that deposits will be returned after two years.
Some people in the Tirupur area and erode the districts invested in the company.
Investors R Rajendran Udumalpet in Tirupur filed a complaint against the company because of deceiving him with scattered economic violations.
Police EOW enrolled the case against ThangaveLu and Dhanaskanan below, 120 B, 406, 420 of the Indian punishment code and part 5 of the TNPID law.
A total of 63 investors were deceived by Rs 1.70 Crore.
ThangaveLu and DhanAkankaran were arrested and nested in the central prison of Coimbatore.
They came out with a guarantee and returned money to 12 investors.
Judge A R Ravi sentenced Thang Servi to 10 years in prison and slapped the fine of RS 1.02 Crore to him.
TNN.
EMU farm owner gets 10 years in prison
