Coimbatore: Special Court for Cases Registered under Tamil Nadu Protection of Interest Depositors (TNPID) Acting here on Wednesday Sentenced by Ponzi Company owners for up to 10 years in prison for cheating 96 investors to RS Tone 2.39 Crore.A Source identified convicts as MS Gurusamy, Managing Director of the Susi EMU based in Perundurai.
Seven of the company’s employees, meanwhile, were released in this case.
The source said Gurusamy had lured investors with a handsome monthly refund, and a bonus for a period of investment for two years.
The scheme was announced in 2010.
“But he did not return the money as promised.
Based on complaints from one of the victims, the Namakkal police have registered the case and arrest the defendant Forcing a fine of Rs 2.40 Crore on him.
When Gurusamy hasn’t appeared before the court, the judge has also issued an arrest warrant for him.
EMU farm owner gets 10 years in prison
