Nearly a fortnight after the ‘Emu Scam’ had surfaced, the Economic Offences Wing (EOW) police in Erode have managed to identify immovable assets estimated to be worth Rs 20 crore belonging to Susi Emu Farms India Pvt. Ltd, the largest player in the emu market.
However, the value of the assets identified is just one-fifth of the deposit amount that has been allegedly siphoned off by emu firms, predominantly Susi Emu Farms India, in Erode district alone.
The Erode police had earlier conservatively pegged the siphoned off amount at `100 crore.
If one were to take into account the amount supposedly lost by depositors, who had invested in Susi Emu Farms, in other districts and the neighbouring States, the cumulative loss would cross `140 crore.
EOW Deputy Superintendent of Police K Jagannathan told Express on Monday that the owners of Susi Emu Farms India – since absconding – had purchased vast tracts of land in Erode.
The company was also planning a real estate venture. The market value of these lands was estimated to be `20 crore.
The special teams of the Economic Offences Wing were visiting the Sub-Registrar offices and other places to identify assets owned in the name of the firm, its owners, partners, their relatives and all their benami transactions.
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