COIMBATORE: Three persons, including S Yuvaraj, founder of Dheeran Chinnamalai Peravai and an accused in the murder of SC youth V Gokulraj of Salem, were sentenced to 10 years in prison in connection with an emu farms scam.
Special Court for Tamil Nadu Protection of Interests of Depositors (TNPID) Act sentenced Yuvaraj (41) and two others to 10 years of imprisonment and imposed a fine of Rs 2.47 crore on them.
In 2011, Yuvaraj, of Iveli near Akkamapettai in Salem, S Thamizhnesan (34) of Thiruvenkitampalayampudur, near Perundurai in Erode, and C Vasu (52), of Nehru Street at Soorampatti in Erode, started Suthi Emu Farms, Suthi Emu Farms Private Limited and Suthi Emu Farms and Hosieries at Perundurai. Yuvaraj was the director of the emu farms, Tamizhnesan was his business partner and Vasu was the manager of the firm.
The firm announced two schemes to attract investors. As many as 121 people from Salem, Erode, Namakkal and neighbouring districts invested a total of `2.70 crore, but were not given any monthly returns as promised.
One of the investors, TP Palanisamy, of Tiruchengode, lodged a complaint with Economic Offences Wing (EOW) police in September 2012 and the police registered a case against the firms and the trio under Sections 120 (b) (criminal conspiracy), 406 (criminal breach of trust), 420 (cheating) of the IPC and Section 5 of the TNPID Act. They were arrested and the case trial was being held at the special court for TNPID cases.
Yuvaraj was brought to the court from Madurai Central Prison. Vasu appeared before the court on Thursday. Judge AS Ravi pronounced the judgment. As Tamizhnesan did not appear before the court, a non-bailable warrant was issued against him.