A special court on Friday sentenced three persons including a former police constable to undergo 10 years of imprisonment for cheating depositors to the tune of ₹ 4.3 crore in a 2012 emu contract farming scam.
Gayathri Sri, who was a Grade-II police constable at Siruvalur police station in Erode district, and her husband Karthik Shankar were the directors of K.G. Bright Livestock India Private Limited at Gobichettipalayam. Sabeen Kanna was the manager of the private firm, court sources said. The firm cheated 98 depositors since its establishment in 2010 by advertising five different schemes for rearing emus and inviting investments.
The Erode District Crime Branch registered a case against the three accused on June 28, 2012 based on a complaint from one of the investors and the case was subsequently transferred to Erode Economic Offences Wing. The accused were arrested and they later came out on bail, the sources said.
On Friday, the three accused were produced at the Special Court for Tamil Nadu Protection of Interests of Depositors Act in Coimbatore, where Judge A.S. Ravi awarded 10 years of simple imprisonment and levied a total fine of ₹ 2,15,60,000. The court ordered that out of the fine amount, ₹ 2.14 crore must be paid towards compensation for the investors, according to the sources.
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