COIMBATORE: A special court in Coimbatore on Friday sentenced a suspended woman police constable and her husband, who were directors of an emu farm, and the manager of the farm to 10 years imprisonment for cheating 73 people of more than Rs 3.42 crore. The Tamil Nadu Protection of Interests of Depositors court also slapped a fine of Rs 2.15 crore on them.
Karthik Shankar and his wife Gayathri Sree Karthik, who was a police constable, started an emu farm in the name of Key Gee Bright Live Stock India Pvt Ltd at Gobichettipalayam in Erode district in May 2010. The couple were functioning as directors of the emu farm. S Sabin Khanna of Gobichettipalayam was a manager of the farm.
They announced ponzi schemes to lure investors. The firm announced five types of schemes, and people from various parts of Erode district invested in the firm. However, the firm failed to provide the monthly returns and bonus as per the agreement to the investors.
S N Venkatesan from Chinnapuliyur near Bhavani, who is an investor, lodged a complaint with the district crime branch police in Erode on July 28, 2012. The police registered a case against the directors and manager of the firm. The case was later transferred to the Economic Offences Wing (EOW). The EOW police registered a case against the trio under sections 120 (b) (criminal conspiracy), 406 (criminal breach of trust), 420 (cheating) and Section 5 of the Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act.
The EOW police arrested the couple and the manager on October 11, 2012. Gayathri was placed under suspension. Earlier, she was working at Perundurai police station.
They police filed preliminary chargesheet against the trio on December 1, 2012. Later, a supplementary charge sheet was filed against them.
Judge AS Ravi pronounced the judgment.