Coimbatore: Special Court for Tamil Nadu Nadu (TNPID) Interest Protection (TNPID) Law on Thursday was sentenced to 41-year-old Yuvaraj, the initial was accused of committing the honor of Dalit Youth Gokulraj, and two aides in prison sentences for the 10-year emu scam case and imposed a fine of the hospital 2.47 crore on them.
The court source said Yuvaraj, a resident of Eveli Village near Akkamapettai in Salem, has deceived 121 people from Rs 2.70 Crore between 2011 and Floating Suthi Emu Farms along with Tamizhnesan 34 years old, Thiruhvenkitampalayampda near Perundurai in Erode, and 52 years C Vasu, from Nehru Street in Soorampatti in Erode.yuvaraj is Emu’s agriculture director, which was founded in Perundurai in Erode in 2011, while Vasu is his manager.
Tamizhnesan is their business partner.
The source said they had announced two schemes to attract investors.
In one scheme, they promised to provide six emperes, feed and shed to raise them, an annual bonus of RS 20,000 and a monthly refund of Rs 7,000 on an investment of Rs 1.5 lakh for 24 months.
They promised to restore capital investment in the maturity of the scheme.
In the second scheme, RS 8,000 monthly refund was promised to an investment of Rs 1.5 lakh for 24 months, in addition to six emuses for maintenance.
While 121 people from Salem, Erode, Namakkal and neighboring districts have invested in schemes, they are not provided monthly refunds of 120 (b) (criminal conspiracy), 406 (criminal violations of trust), 420 (cheating) from Indian criminal codes and part 5 of TNPID Law.
While the three were arrested, Tamizhnesan and Vasu then came out with a guarantee.
However, Yuvaraj nested in Madurai’s middle prison in a murder case.
On Thursday, Yuvaraj was taken to the TNPID Court in Coimbatore from the Madurai Central Prison for the trial.
While Vasu was also present, Tamizhnesan did not appear before the court, who had issued an ordinary warrant against him.