Gold Palace jewellery investment case: bank accounts of some suspects frozen

Two major partners arrested, search on for two more persons

The bank accounts of some of the suspects in the Gold Palace jewellery investment case have been frozen following the directive of the Kozhikode Rural police team. Two major partners having direct involvement in the case were arrested, and the search is on for two more persons. Over 300 investors were reportedly duped by the investment scheme operators. The branches of the jewellery in various rural areas of Kozhikode have been sealed. The complainants are mostly from Payyoli, Nadapuram and Kuttiyadi, where the scheme operators had opened jewellery shops. According to the police, some of those who mobilised huge investment from the scheme had escaped to Dubai and they would be brought back for proceeding with the investigation. The trickery came to light after investors found that the jewellery shops remained closed without any business activity for many days. It was a group of investors from Nadapuram who first filed complaints to track the jewellery owners. When they approached the jewellery operators last week to claim their money, they allegedly escaped from the spot.