Hyderabad: There are incriminating evidences against Nowhera Shaikh, the Managing Director and CEO of Heera Group of Companies and she has been arrested after a thorough investigation, Hyderabad Police Commissioner Anjani Kumar said while talking to reporters Tuesday.
"The Central Crime Station (CCS) detective department has found incriminating evidence against notorious criminal Nowhera Shaikh, Managing Director Heera Group of Companies, who is accused of duping thousands of people in the name of various schemes", Kumar said.
"CCS has taken up investigation, recorded statements of various stakeholders and other victims and collected evidences from different sources and found substantial incriminating evidences against her", he said.
He said based on available evidences, Nowhera Shaikh was arrested on Monday October 15, 2018 in New Delhi and was brought to Hyderabad on Transit Remand and produced before the Nampally court in the city.
Kumar said it was found that Nowhera Shaikh is heading about 15 companies under different names. Many of the the companies are involved in collection of deposits/investments in different modes of gold scheme from public wherein these companies commited a return of around 36% per annum for the invested amount.
Nowehra Shaikh describes herself as an Entrepreneur, Businesswoman, Educationist, Human Rights and Women’s Rights Activist. She launched a political party, All India Mahila Empowerment Party (AIMEP), in November last year - few months before the Karnakata assembly elections.
The launch of her political party came amidst accusations of fraud and cheating by her critics, though her company was distributing "profits" to its investors regularly.
Nowhera Shaikh has offices almost all over India and abroad, especially in UAE. She used to claim trading in gold, promising investors profits to the tune of 30 to 40 percent. She later also started other businesses like textiles and food, and also established shopping malls in some cities, including Hyderabad.
Nowhera Shaikh is also famous for organising various events attended by filmstars and prominent personalities. Her AIMEP launch in New Delhi in November 2016 was also attended by stars like Sania Mirza, and cricktere Mohammad Azharuddin and actor Sunil Shetty were regulars in her programmes.
However, soon after Karnataka elections, Heeral Gold stopped depositing "profits" into the accounts of "investors" citing one or the other reasons. The delay in the payment created panic among the investors, many of whom, even lidged police complaints in Hyderabad and some other parts of the country.
"During investigation, evidences of diversion of funds have come to light. Evidence has also been found of purchase of assets in different names of individuals as well as companies. Many investors have not been paid their dues since last few months by accused companies", Hyderabad Police Commissioner Anjani Kumar said.
"The companies and other accused have not cooperated with police or provided relevant information during course of investigation. The main accused also made efforts to mislead the police and avoid the investigation", he said.
He said more than 160 bank accounts have been identified across India, details of which are being sought from the concerned banks.
"Different properties have been identified and necessary action under the Telangana Deposits of Financial Establishment Act 1999 and The Prize Chits and Money Circulation Scheme Act 1978 are under consideration", he said.
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