Goodwin jewellery chain's owner brothers held in Thane

Updated: Dec 14, 2019, 07:56 IST | Agencies | Mumbai

Hundreds of customers of the Goodwin jewellery chain were left high and dry after the owners shut its outlets in several cities in Maharashtra, including neighbouring Mumbai and Pune, besides Thane, around Diwali this year

Both the accused brothers had fled after closing their showrooms on October 25
Both the accused brothers had fled after closing their showrooms on October 25

Two brothers who owned the Goodwin jewellery showroom chain were taken into custody for allegedly duping hundreds of depositors to the tune of over R25 crore after they surrendered in a court in Thane, a senior official said on Friday.

Hundreds of customers of the Goodwin jewellery chain were left high and dry after the owners shut its outlets in several cities in Maharashtra, including neighbouring Mumbai and Pune, besides Thane, around Diwali this year.

"The firm's owners and whole-time directors, A M Sunil Kumar and A M Sudhesh Kumar, surrendered in the MPID (Maharashtra Protection of Interest of Depositors Act) court on Friday after which they were taken into custody," Thane police's Economic Offences Wing (EOW) deputy commissioner Sanjay Jadhav said.

"As many as 1,154 customers were cheated by the Goodwin chain after they reneged on investments to the tune of R25 crore. They fled after closing their showrooms on October 25. Cases were filed against them in Dombivli, Naupada and Shivaji Nagar," he said.

Apart from sections of Indian Penal Code (IPC) for cheating, the two brothers were also charged under provisions of the Maharashtra Protection of Interests of Depositors in Financial Establishments (MPID) Act, officials said.

The Goodwin Group has outlets in Vashi (Navi Mumbai), Thane city, Dombivli, Ambernath, Mira Road (Thane district), Chembur (Mumbai), Chinchwad, Bund Garden and Pimpri (Pune), besides Thrissur in Kerala.

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