ED arrests Nowhera Shaik in Gurugram for alleged 3000cr scam
Heera Group chief Nowhera Shaik, has been arrested by the Enforcement Directorate (ED) in Gurugram for allegedly running a massive ₹3,000 crore investment scam.
The scheme promised 36% yearly returns and drew in about 170,000 investors.
While absconding, Shaik was finally caught with help from Haryana Police and taken to Hyderabad.
Investigators say funds diverted to Shaik
According to investigators, Heera Group didn't actually have real business operations; instead, money from investors was moved into Shaik's personal accounts and used to buy properties.
She reportedly ran 24 companies and over 180 bank accounts in India, plus several abroad to keep things going.
The Supreme Court had even ordered her assets auctioned off, but after she allegedly tried to block those proceedings, her bail was canceled and a warrant was issued earlier this month.
The investigation is still ongoing.