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Home / Kerala / In a video clip, Goodwin group owners explain why they are on the run

In a video clip, Goodwin group owners explain why they are on the run

Apart from selling jewellery, the company also had schemes where they promised 18-20 per cent returns to customers who invest with them.

kerala Updated: Oct 28, 2019, 18:20 IST
Hindustan Times, Thiruvananthapuram
AM Sunilkumar and AM Sudheerkumar, the two owners of Goodwin Jewellers, have been accused of cheating by their customers.
AM Sunilkumar and AM Sudheerkumar, the two owners of Goodwin Jewellers, have been accused of cheating by their customers.(Rishikesh Choudhary/ Hindustan Times)

AM Sunilkumar and AM Sudheerkumar, the two owners of Goodwin Jewellers who have been accused of cheating by their customers, have released a video clip to seek time to repay their clients. In the clip released to news channels in Kerala, the two directors of the family-run jewellery chain who have gone missing said the firm had run into some financial problems and they were trying to raise money to pay their customers.

Apart from selling jewellery, the company also had schemes where they promised 18-20 per cent returns to customers who invest with them. When these stores in Thane, Navi Mumbai and Mumbai remained shut through much of last week, customers who expected to receive payments during the festive season filed police cases.

“There are some financial difficulties. We are trying our best to get over them. If we are arrested now, we won’t be able to mobilise funds. So we are keeping away from the police for now,” said brothers AM Sunilkumar and AM Sudheerkumar in the video. Sunilkumar is the managing director of the group, his brother Sudheerkumar its full-time director.

The two brothers also claimed that a leading jewellery chain in Mumbai was behind the firm’s troubles.

Efforts to independently contact the brothers did not succeed.

A Thrissur-based jewellery chain, Goodwin entered the wholesale gold business in 1995 and opened its first outlet in Mumbai in 2004. Over the next decade or so,, the firm opened more than 25 branches in Maharashtra alone.

A top police officer of Thrissur said they hadn’t received any complaint against the firm in the city but its jewellery stores had been shut for a few days. “Their outlets were open till a couple of days back...but now they remain closed,” said Thrissur police commissioner Yatish Chandra. He added that Mumbai police officer were yet to contact his team.

The Goodwin group had also diversified into the security system business. On its website, Goodwin Security Systems website claimed that it was responsible for the security system at two major temples of the state, Guruvayur and Sabarimala.

But temples boards of both said they discontinued its service two years back. “We changed them last year. Now Uralungal Labour Co-operative Society is doing it for us,” Guruvayur Devaswom Board chairman K B Mohandas told HT.

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