Thane Police's Economic Offences Wing (EOW) has taken over the probe against Goodwin Jewellers for allegedly cheating hundreds of investors of several crore rupees, an official said on October 29.

Goodwin Jewellers shut its outlets in Thane, Palghar and Mumbai region a couple of days before Diwali, leaving hundreds of people, who had invested in their gold and fixed deposit schemes, in the lurch.

The case will now be probed by a team of officers from the EOW, deputy commissioner of police Sanjay Jadhav, Thane EOW, said.

The issue came to light in Dombivili where a few duped investors filed the first complaint against owners of the firm AM Sunilkumar and AM Sudheshkumar, following which cases were registered at Manickpur in Vasai (Palghar), Naupada in Thane and Shivaji Nagar in Ambernath, an official said.

While 28 people have been cheated to the tune of Rs 2.21 crore in Ambernath, in Thane's Naupada area, a total of 69 people have been duped of Rs 1.63 crore, he added.

Following agitation by customers and investors, the owner brothers on Monday released a video on social media wherein they blamed people with vested interest and business rivals for their losses.

The jewellery chain owners, who hail from Kerala, told affected customers that their money was "safe" and promised to return it.

The police have booked the owners and shop managers under sections 420 (cheating) and 406 (criminal breach of trust) of the Indian Penal Code and under relevant sections of Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act.