A special court on Saturday framed charges against eight persons in the Suman motels directors resort plantation scam worth over Rs300 crore in which over 62,000 investors were allegedly duped by the company.
The case was being investigated by the Economic Offences Wing of the Mumbai crime branch. "Charges have been framed against eight persons involved in the Suman Motels scam in the court," Sadanand Date, joint commissioner of police, crime, told dna.
The directors of the chain of holiday resorts allegedly cheated over 60,000 investors. There are over 800 pending warrants against the directors of the company. Around 62,550 people invested in various schemes offered by the company before the scam surfaced in 2001 and the company's operations were suspended by the Securities and Exchange Board of India.