Kerala gold investment fraud: Proprietors of now defunct jewellery arrested in ten more cases

Ernakulam Central police arrest four brothers for failed gold investment scheme, facing multiple charges in court.

The Ernakulam Central police have recorded the arrest of four brothers who have already been arrested and remanded in connection with a failed gold investment scheme through a jewellery store run by them in the city, which has since gone kaput.

So far, nearly 40 cases have been registered against them. Reportedly, their bail applications in ten cases were rejected, and they would be presented before a court in the city on Thursday (June 5, 2025). The Central police had arrested the accused earlier this year. The arrested were identified as R.J. Antony, Joby, Joseph and Johnson – brothers and proprietors of a Jewellery at the High Court Junction that had since then shut down.

“The arrest is rather technical since they have already been arrested. Their arrest has been merely recorded in ten more cases in which their bail applications have been rejected,” said Central police sources.

The police have received over 100 complaints about the scheme. Since the complaints were similar, they were clubbed together. Allegedly, the accused collected investments from the petitioners under a gold scheme, and one of the promises was to give fresh gold without labour charges. But the scheme did not work out as they planned.

The Central police have booked them for charges under the Bharatiya Nyaya Sanhita Sections 406 (criminal breach of trust) and 420 (cheating and dishonestly inducing the delivery of property).  

Reportedly, complaints were lodged in other police stations, especially along the coastal areas. It is learnt that the victims are spread across areas like Vypeen, Kochi, Paravur, Cherai and even as far away as Lakshadweep. The accused reportedly had more firms in various parts of the district.