Chairman & MEP President of Heera Group
President Nowhera Shaik, A chairman or founder of the controversial Heera Group of companies, or President of the All India MEP (Mahila Empowerment Party), Nowhera Shaik, was under arrest on 15 October, on Monday in New Delhi, accused of cheating shareholders to the tune of 100s of crores. Police official Anjani Kumar in Hyderabad declared the arrest of Dr. Shaik at a journalist meeting here on Tuesday. Police said that she was blamed by several shareholders for cheating later than gathering deposits from them.
Especially Dr. Shaik was under arrest underneath sections 406, 420, 409, or 506 of the IPC by the CCS law enforcement in Hyderabad. Heera Gold that is according to SEBI is a Ponzi system; entices shareholders in the name of Halal savings or assure elevated monthly permanent proceeds. The corporation methodically targeted Muslims throughout India. It stopped up disbursing shareholders for the previous few months, leading to numerous complaints in opposition to it
Nowhera Shaik, under arrest
Heera Gold, which maintains to be a corporation of gold trading with commerce interests throughout the globe, has been blaming for operating a Ponzi system and indulge in cash launder and hawala dealings for more than a few years.
Moreover In 2014, Nowhera Shaik was named a major blamed by a particular task force team; that broke a worldwide hawala racket in Hyderabad. On twelve November 2017, Dr. Shaik established the All India MEP (Mahila Empowerment Party) or forayed into political affairs with catastrophic consequences. The party completed the 2018 Karnataka votes with a great deal of fanfare; however, its applicant could not gather one lakh elections in every 175 voters place jointly. Nevertheless, despite growing cases in opposition to her, Dr. Shaik the previous week declared her party would compete for all one hundred nineteen; seating in the Telangana lawmaking meeting vote 2018.