Nowhera Shaik

As per its website, Heera Group claimed that it was a company with diversified operations in various sectors including gold imports, gold trading, textiles, jewellery, mineral water, granite, tours and travels, real estate and e-commerce. Heera Mart, the group's shopping mall is located at Kukatpally, Hyderabad.{{cite web|url=https://www.thehansindia.com/posts/index/Hyderabad-Tab/2016-10-09/Heera-Mart-in-Kukatpally/257985|title=Heera Mart in Kukatpally|date=9 October 2016|website=The Hans India}}

Earlier in the month of September 2024, the Crime Investigation Department (CID) of Andhra Pradesh apprehended Shaik in Chittoor following multiple complaints across the state. She faces charges of fraud, breach of trust, and intimidation. Shaik has encountered similar allegations in several other states, including Maharashtra, Karnataka, Delhi, and Kerala, where she allegedly breached regulations while expanding her business and collecting substantial deposits.

In 2018 Shaik was arrested for allegedly running a Ponzi scheme assuring returns of 36% per year for the investment under the disguise of Heera Group and the total amount involved was more than ₹5000 crore from 1.72 lakh investors. In 2019 she was arrested by Crime Investigation Department (CID) police of Andhra Pradesh after a series of complaints in the state. CID charged her with the cases like criminal intimidation, cheating and criminal breach of trust.{{cite news |last1=Rao Apparasu |first1=Srinivasa |title=Ponzi scheme accused Nowhera Shaik produced in Hyderabad court in more cheating cases |url=https://www.hindustantimes.com/india-news/ponzi-scheme-accused-nowhera-shaik-produced-in-hyderabad-court-in-more-cheating-cases/story-rzocfsfFi2B9oFPEVhjxFM_amp.html}}{{cite news |title=SEBI confirms Heera Gold is a Ponzi scheme, says EOW, ED and SFIO probing the MLM |url=https://www.moneylife.in/article/sebi-confirms-heera-gold-is-a-ponzi-scheme-says-eow-ed-and-sfio-probing-the-mlm/54730.html |work=Moneylife NEWS & VIEWS |language=en}}{{cite news |last1=media |first1=news and |title=Heera Group director Nowhera Shaik arrested in Hyderabad |url=https://www.en.etemaaddaily.com/crime/heera-group-director-nowhera-shaik-arrested-in-hyderabad:50181 |work=www.en.etemaaddaily.com |language=english}} Investors were dissatisfied with the pace of investigation and even demand action on her supporters too in the scam case.{{cite news |last1=Moin |first1=Ather |title=Investors demand action on Nowhera Shaikh’s many supporters |url=https://www.deccanchronicle.com/amp/nation/current-affairs/151119/investors-demand-action-on-nowhera-shaikhs-many-supporters.html |work=Deccan Chronicle |date=15 November 2019 |language=en}}{{cite news |last1=Farooqui |first1=Mazhar |title=Heera Group victims: Two years after Nowhera Sheikh’s arrest, investors are yet to get their money back |url=https://gulfnews.com/amp/uae/heera-group-victims-two-years-after-nowhera-sheikhs-arrest-investors-are-yet-to-get-their-money-back-1.74610993 |work=Gulf News |language=en}}

The Enforcement Directorate (ED) on Saturday carried out searches at the offices of Heera Group of companies and properties of Nowhera Sheikh, the group’s founder. The agency conducted simultaneous raids at different locations from Saturday morning.

During the raids, the ED reportedly seized property documents and papers relating to financial transactions.

Earlier, the agency had conducted searches in Hyderabad in connection with a case registered against Heera Group and provisionally attached properties worth Rs 400 crore owned by the group.

The ED is investigating a case against the Heera Group of Companies under the Prevention of Money Laundering Act.

Heera Group has been accused of cheating lakhs of investors by collecting thousands of crores in investments on the promise of providing high returns. The Ponzi scheme was carried out in the name of Heera Gold Trading.{{cite news |title=Heera scam: ED seizes ₹90 lakh cash & docus |url=https://timesofindia.indiatimes.com/city/hyderabad/heera-scam-ed-seizes-90-lakh-cash-documents/articleshow/112255520.cms |work=The Times of India |date=4 August 2024}}{{cite news |title=MSN |url=https://www.msn.com/en-in/lifestyle/festival/telangana-ed-raids-office-of-heera-group-seizes-documents/ar-AA1oc7cv |work=www.msn.com}}

A First Information Report(FIR) has been filed by a benagaluru based software company 1help Technology & Software Solutions Pvt Ltd against Heera Group CEO Nowhera Shaik and her 5th husband Sameer Khan for threatening the company directors Mohammed Akheel and Mohammed Muneeb Khan for not repaying their due amount in Banjara Hills Police station of Hyderabad.{{cite news |title=Making threats: Nowhera, her hubby charged |url=https://timesofindia.indiatimes.com/city/hyderabad/making-threats-nowhera-her-hubby-charged/articleshow/116345343.cms |work=The Times of India |date=16 December 2024}}

On 23 August 2024, Supreme court orders Shaik to repay the 580 crore rupees to the investors which court subjected her in financial fraud to the Muslim community at the name of interest free banking and halal activity. Supreme court clearly orders her either to repay the amount by 18 October 2024 or go to jail.{{cite web |title=S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS Criminal Appeal Nos.761-762/2021 |url=https://api.sci.gov.in/supremecourt/2020/5284/5284_2020_10_65_54999_Order_23-Aug-2024.pdf}}

Serious Fraud Investigation Office of the Government of India has issued a notice to Heera Group in this matter. {{cite news | url=https://sfio.gov.in/en/notice/in-the-matter-of-heera-group-of-companies-for-the-information-of-investors-who-filed-claim-with-sfio/ | title=SFIO Heera Webnotice dated 20-03-2023

}}

On 16 November 2017, Shaik founded the All India Mahila Empowerment Party.{{cite web|url=https://www.dailypioneer.com/2017/delhi/nowhera-floats-new-party--for-women-empowerment.html|title=Nowhera floats new party for women empowerment|via=Daily Pioneer News|work=dailypioneer.com|date=17 Nov 2017|access-date=3 Jul 2021}} The party contested the 2018 Karnataka Legislative Assembly election{{cite web|url=https://www.deccanchronicle.com/nation/current-affairs/231118/nowhera-shaikh-entrepreneur-educationist-conwoman.html|title=Nowhera Shaikh: Entrepreneur, educationist, conwoman|first=Swati|last=Sharma|date=23 November 2018|website=Deccan Chronicle}} and fielded candidates for all 224 constituencies, garnering 0.3% vote share.{{cite web|url=https://timesofindia.indiatimes.com/city/mumbai/nowhera-shaikh-from-trading-in-gold-to-launching-a-party-shaikhs-career-was-full-of-twists/articleshow/66520807.cms|title=Nowhera Shaikh: From trading in gold to launching a party, her career was full of twists - Times of India|website=The Times of India}} The party contested from all the 119 constituencies in the 2018 Telangana Legislative Assembly election and aims to contest in the 2019 Indian general election.{{cite news | url=https://timesofindia.indiatimes.com/city/hyderabad/mep-to-contest-all-seats-in-state-polls/articleshow/66143672.cms | title=MEP to contest all seats in state polls | date=10 October 2018 | newspaper=The Times of India | accessdate=24 June 2019}}

In 2016, a complaint was filed against Heera Group by Asaduddin Owaisi alleging that a number of investors from his constituency Hyderabad were cheated but was granted bail by the court on the condition to return investors' amount.{{cite web|url=https://www.deccanchronicle.com/nation/crime/070816/heera-partners-in-row-once-again-in-trouble-with-a-fresh-dispute-and-a-police-case.html|title=Heera partners in row once again in trouble with a fresh dispute and a police case|via=Deccan Chronicle|work=Deccan Chronicle|date=7 Aug 2016|access-date=18 June 2021}}{{cite web|url=https://www.thenewsminute.com/article/will-repay-investors-claims-heera-group-md-nowhera-shaikh-after-release-jail-145186|title=Will repay investors, claims Heera Group MD Nowhera Shaikh after release from jail|via=The News Minute|work=thenewsminute.com|date=13 Mar 2021|access-date=18 June 2021}}{{cite news |last1=Hussain |first1=Shaik Zakeer |title=Scam-Hit Heera Gold Reopens Office In Hyderabad After SC's Order |url=https://thecognate.com/scam-hit-heera-gold-reopens-office-in-hyderabad-after-scs-order/ |work=The Cognate |date=27 March 2021}}

In 2018, Gulf News reported that Nowhera Shaik used photo-editing software to create fake awards for herself to gain the trust of potential investors.{{cite news | url=https://gulfnews.com/uae/crime/how-heera-groups-managing-director-nowhera-shaikh-faked-awards-to-gain-trust-1.1541605924435 |title=How Heera Group’s managing director Nowhera Shaikh faked awards to gain trust |date=7 November 2018}}

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Category:Indian women business executives

Category:Businesspeople from Andhra Pradesh

Category:Living people

Category:1973 births