Mumbai: In yet another Ponzi scheme Goodwin Jewellers having retail stores in the suburbs of Mumbai and Kerala seems to have vanished and are untraceable since the last 4-5 days, leaving traders and customers a worried lot.
Many among the public who have invested in Goodwin’s gold schemes and others who have been regularly supplying to them are having sleepless nights. Perhaps they will never get their goods and money back. Some of its stores in Vashi, Chembur, Thane, Mira Road and Dombivili among the suburbs of Mumbai were shut. Anxious customers thronged its Dombivili store which remained closed for the past several days. Police complaint have been lodged and calls to the stores went unanswered.
Sources revealed that many of the mid and small jewellers were completely stressed as consumer demand for the yellow metal had fallen with prices having risen Rs 6500 per 10 gm to nearly Rs 40000 since last Diwali.
The owners of Goodwin Jewellers hail from Kerala and had 13 outlets in operation in Mumbai and Pune. Most investors in their schemes were Mumbai settled Malayalis. When police raided the owners Sunil Kumar and Sudeesh Kumar’s residence, it was locked.
The company had floated two schemes. In the first, investors were offered 16 percent interest on their fixed deposits. In the second, it offered gold jewellery or cash at the end of the year based on the deposits made. One could invest any amount in a month for a year. Investors could avail gold equivalent to the total amount and those wanting to collect cash could do so after 14 months.
Sources said that people had invested around Rs.2000 to more than Rs. 50 lakhs. However, police believe that the amount could run to over several crores. S P Aher, senior inspector at Ramnagar police station, said, “We have filed a cheating case against the owners and their area manager Manish Kundi.” He further said that some 250 people had approached them from only Dombivli and their statements were recorded to find out the money that they lost.
Goodwin Jewellers have been in the business since last 22 years and the owners had left behind a voice message promising investors that their investments were safe and would be returned. The company’s Dombivli office was closed on October 21 and when they enquired on phone, the jewellery staff told that the shops will remain closed for two days. However, the shop being shut even during Diwali sparked worries among its customers.
After the news spread, people began gathering outside Goodwin showrooms in Thane too. Though police have told that a probe is being conducted and efforts are on to trace the owners, investors are more or less likely to lose their hard-earned money. All are unsure of what news they will get tomorrow
