After duping 1,154 customers, Goodwin jewellery chain’s owners held in Thane

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The owners of the Goodwin jewellery showroom chain, on December 13, surrendered themselves to a court in Thane for allegedly cheating several customers off more than Rs 25 crore.

According to a senior official, the owners, AM Sunilkumar and AM Sudheshkumar, who are also brothers, closed many of their store’s branches across Maharashtra during the Diwali period without returning the money of around 1,154 depositors.

According to Economic Offences Wing deputy commissioner Sanjay Jadhav, the brothers surrendered in the MPID (Maharashtra Protection of Interest of Depositors Act) court on December 13 after which they were taken into custody, Thane police’s

“As many as 1,154 customers were cheated by the Goodwin chain after they reneged on investments to the tune of Rs 25 crore. They had fled after closing their showrooms on October 25. Cases were filed against them in Dombivali, Naupada and Shivajinagar,” he said.

Apart from sections of Indian Penal Code 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, Dombivali, Ambernath, Mira Road (Thane district), Chembur (Mumbai), Chinchwad, Bund Garden and Pimpri (Pune), besides Thrissur in Kerala.