A month after nearly 12,000 investors lost an estimated Rs 143 crore deposited in a ponzi scheme floated by the Erode-based Susi Emu Farms India Pvt Ltd, police managed to arrest its owner M Guru alias Gurusamy (39) from Hogenakkal in Dharmapuri district on Tuesday.
A special police team attached to the Economic Offences Wing (Tiruchy) led by Deputy Superintendent of Police Mandiramurthy picked up Guru from Siva Guest House at Oottamalai, a hill village near Hogenakkal, where he was staying like a tourist.
It is also believed that the police have detained a journalist working with a Tamil bi-weekly who was staying with Guru.
Guru had gone underground since August 6 when depositors began picketing his firm’s office in Perundurai in Erode district after he defaulted in paying promised fancy monthly returns.
“We arrested Guru from the guest house in Nadarkadu located in a forest area on the Hogenakkal-Anjetti Road around 11.
40 a.
m.
He was staying there for the past three days.
We learnt that three others were also staying with him in the guest house that was booked in the name of one Rajasekaran of Anjetti but they escaped,” a police officer said.
Guru was brought to Chithode police station for questioning on Tuesday evening.
Sources said that Guru would be produced before the TANPID Court in Coimbatore on Wednesday.
The police are likely to press for his custodial interrogation.
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