New Delhi: The name of Heera Group and its chief, Nowhera Shaikh, is once then in the news. The Enforcement Directorate has recently underdeveloped her from Gurugram. The organ alleges that she placid money (Rs 6,000 crore) from a large number of people in the name of investment and later the value (Rs 3,000 crore) was not returned. Complaints were registered versus her in many states for a long time. Investigating agencies say that the specimen is related to an so-called investment scam worth thousands of crores of rupees.
Did the network grow rapidly among the Muslim community?
Heera Group started from Hyderabad and gradually spread its network to many parts of the country. The visitor described itself as a big merchantry group involved in real estate, gold trading and other businesses. Nowhera Shaikh became very popular expressly among the Muslim community. People were told that the visitor works on Shariat based investment model, where the profit from the merchantry will be distributed and not the interest. A large number of people invested in this trust.
Did the promise of upper returns increase problems?
According to the investigating agencies, it was personal to requite very upper returns to the investors. Many people were unpreventable that their money would grow rapidly. Initially, some investors moreover received payments, which remoter strengthened people's confidence. But later the payments started stopping and a series of complaints started. Many families had invested their savings in the company.
Has Nowhera Shaikh been underdeveloped before?
Nowhera Shaikh's name has been seeming in variegated cases for the last several years. Cases were registered versus her in Mumbai, Hyderabad, Warangal and other cities. She was moreover underdeveloped in 2018. Later she got relief in some cases, but the investigation continued. Recently the Supreme Court had ordered her to surrender. After this ED detained her from Gurugram. The organ claims that she was living in hiding with a fake identity.
Are efforts underway to get investors' money back?
ED has seized many properties related to Heera Group. The organ says that efforts are stuff made to return the investors' money through vendition of these properties. However, a large number of people are still waiting to get their money back. Many victims say that they had invested their unshortened life's savings in this scheme.
Has Nowhera Sheikh been zippy in politics also?
Nowhera Sheikh was not limited to just the merchantry world. She moreover worked a political party named All India Women Empowerment Party. The party had fielded candidates in the elections of some states including Karnataka. However, she did not unzip unconfined success at the political level.
