Goodwin employees not paid salaries for a month

Fight against cheating: Investors protesting outside Goodwin jewellers shop in Thane on Monday.

Employees at the Thane outlet of Goodwin Jewellers had not been paid their salaries for the last one month, an employee of the group told

The Hindu on Wednesday.

The Dombivli police registered an FIR of cheating and criminal breach of trust against the owners and managers of Goodwin Group for allegedly fleeing with crores of rupees invested by their customers. The case was first transferred to the Thane Economic Offences Wing (EOW), and later to the Navi Mumbai EOW, where the owners used to stay before absconding.

The employee, who did not wish to be named, said the first signs of trouble were noticed three months ago. “It was Onam and we were told that business might be slow for the next six months, but also that it was no reason to worry as the owners had a lot of property in Kerala. We also heard about an investment by the owners, but they talked among themselves mainly in Malayalam, which made it difficult to understand the specifics. We had not received our salaries for the last month, and when we asked about it, the owners again bragged about their land in Kerala.”

He said he has been getting calls from investors ever since the controversy erupted and is also worried about providing for his family now. His second concern is shared by scores of customers who had invested in fixed deposit (FD) or savings schemes. The schemes were run on trust with no formal guarantee of redemption and customers were assured of 75-100% profits over periods of nine to 12 months.

“I have been depositing ₹20,000 every month for the last two years with the Thane branch of Goodwin Jewellers. It disheartens me to see the news that they have fled to Kerala after taking all our money,” Pooja Shelar, an HR professional who stays in Thane, said.

Rajesh Khetle, who works in the IT sector, had invested ₹3 lakh over a year. He said he learned about the scheme when he had gone to the outlet to buy gold. “I was expecting the returns on my investment in December.” Mr. Khetle is one of the several people who have filed complaints with the Naupada police.

The accused had formed various WhatsApp groups based on location, where customers could stay in direct touch with them as well as each other. The groups are now buzzing with updates about the crisis, with all the members unsure of the future.

A Pune resident, who declined to be identified, said his wife and father were very actively investing in Goodwin’s FD and monthly deposit schemes. The family has invested ₹7 lakh over one year and has lodged a complaint with the Pimpri Chinchwad police.

“This is our hard-earned money. We desperately need our money back as my family has been severely affected financially due to this fraudulent scheme. We are scared as after watching the video released by the owners, our confidence in them returning our money is diminishing,” the investor said.