Eight persons, including owner of a popular private firm involved in Emu farming near here, have been booked by police for allegedly cheating a large number of people to the tune of crores of rupees by promising lucrative returns on investments in commercial rearing of the bird.
Based on complaints from a group of investors, cases under IPC sections 420 (cheating) and 120B (conspiracy) have been registered against Susi Emu Farms owner-cum Managing Director M S Guru and seven others, police said today.
A search was on by special teams to trace the eight persons, who are absconding, they 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.
Meanwhile, the district administration has launched an inquiry by the District Revenue Officer and Revenue Divisional Officer 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 firm.
They said steps were being taken to freeze the assets of the firm and also impound Guru’s passport.