Emu investment scam: One more arrested

Police investigating the multi-core emu farm investment scam in the district have initiated steps to freeze the bank accounts of promoters of the companies facing cheating charges and arrested the proprietor of a farm.

The Economic Offences Wing police have written to banks and the land Registration department to freeze the bank accounts of Susi Emu Farm,facing charges of duping investors of crores of rupees after promising high interest on deposits,and not to allow the sale of any property owned by company or its its Chairman and Managing Director M.S Guru,who is absconding,police said.

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

Meanwhile,Suresh,owner of NS Emu firm at Siruvalure was arrested yesterday on a complaint by one of the investors in the firm.

Police said Suresh had collected more than Rs 15 crore deposits from 850 people and did not pay interest for the month of July.

Special team has been formed to arrest owners of four farms,includng Susi Emu Farm,police said.