In Emu farming scam eight persons, including owner of a popular private firm involved in Emu farming have been booked for allegedly cheating a large number of people, by promising lucrative returns on investments in commercial rearing of the bird.
Acting on the complaints of a group of investors police has registered cases under IPC sections 420 (cheating) and 120B (conspiracy) against Susi Emu Farms owner-cum Managing Director M S Guru and seven others.
A special team is searching those eight persons, who are absconding, police said.
The complainants had stated that they invested huge money in emu farming run by Guru who assured a monthly income of over Rs 6,000 per investor. However, the monthly payments dried up recently and the firm did not respond to their pleas about the non-payment.
They claimed over 2,000 people have invested Rs 1.50 lakh each in the firm.
An inquiry was launched by the district administration and the District Revenue Officer and Revenue Divisional Officer are inquiring into the scam and conducted raids at the head office of the Susi farms located in Perundurai.
Officials said some affluent people had also invested Rs 50 to Rs 70 lakh in the emu farming firm.
They said steps were being taken to freeze the assets of the firm and also impound Guru’s passport.