The Goodwin Jewellers scam is the latest that Mumbaikars have fallen prey to.
Mumbai Police have lodged multiple cases against proprietors of Goodwin Group for allegedly fleeing with crores of rupees of investor money.
The matter came to light after several investors approached the police on Oct. 26 to inform that the group's branch in Dombivli remained shut.
The group, the police said, were running two investment schemes—monthly and fixed deposit schemes. Over the last few years, many similar cases have been uncovered.
Watch as BloombergQuint decodes the modus operandi of this neighbourhood scam.
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