Tamil Nadu Chief Minister J. Jayalalithaa today announced steps to mitigate losses incurred by investors in the multi-crore emu farm investment racket in Erode district.

Chairing a review meeting here to discuss the situation, Jayalalithaa said she had asked police to act quickly in nabbing those who were absconding in connection with the scam.

“I have directed police to return the money of the depositors by confiscating the property of the emu farm owners through court,” she said in a statement.

Further, with the emu chicks left unattended and some dead due to their owners absconding, she had directed the Animal Husbandry department to accord due care to the birds.

The department would rear the chicks which would be sold once they grow. Part of the money would be used for covering fodder expenses incurred by the department and the balance distributed among depositors, she added.

Cases had been registered against the Perundurai-based Susi Emu Farm last week after a large number of investors lodged complaints they had not been paid interest for the deposits.

A special team has been formed to arrest owners of four farms, including Susi Emu Farm.

(This article was published on August 17, 2012)
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