Goodwin fraud: Investors to move SC, start online survey

With no development in the Goodwin Jewellers fraud case even after 13 days of investigation by the economic offences wing (EOW), Thane, investors are planning to

With no development in the Goodwin Jewellers fraud case even after 13 days of investigation by the economic offences wing (EOW), Thane, investors are planning to file a public interest litigation (PIL) in the Supreme Court.

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“The PIL will be filed within two weeks,” said Murali Pillai, 50, whose family has invested ₹14 lakh with Goodwin Jewellers.

He has started an online survey to help more and more investors come forward and join the PIL.

Investors have planned to form an association to fight the case legally. “We have to take steps to get our hard-earned money back. The online survey has got a good response in Pune, Mumbai and Thane. Investors have shared their details. After compiling all details, a database will be prepared to fight the case legally,” said Pillai.

All 12 branches of Goodwin Jewellers in Mumbai, Thane and Pune shut on October 22. As the number of complaints kept increasing and also the money involved, the EOW took over the case on October 30. The owners of Goodwin Jewellers, Sunil Kumar and Sudheesh Kumar (who are brothers), are absconding.

So far, 933 investors from Pune, Mumbai, Thane, Dombivli and Navi Mumbai have given details online and the loss is pegged at ₹16 crore till now. The investors had deposited money in monthly and yearly basis schemes, in which they were promised returns with 16% to 18% interest. “Investors have claimed to have lost up to ₹25 lakh. I am sure more investors will come forward and join to fight this case in court,” said Pillai.

The Thane EOW said they are trying to get details about the property owned by the brothers.

“We have already sealed their properties in Dombivli Palava, jewellery stores in Dombivli, Thane and Ambernath,” said SN Patil, assistant commissioner of police, EOW, Thane.

He said all their properties would be sealed and later seized. “We also need to check all their bank details and whether they have taken loans,” said Patil.

The brothers have been charged under sections 420 (cheating) and 406 (criminal breach of trust) of the IPC and under relevant sections of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.