Nowhera Shaikh’s Heeragold got huge foreign investment

HYDERABAD: The Central Crime Station (CCS) has asked Enforcement Directorate, income tax department and Serious Fraud Investigation Office to thoroughly investigate the Heeragold scam after the Analysis of hard disks seized from Heeragold companies has revealed that the firms carried out huge foreign transactions without valid licenses.

The CCS has written to the three agencies about probing the goldmine of information they found some numerous irregularities in the scam.

Apart from Rs 5,647 crore of deposits collected in India by the Heera Group companies, the investigations so far have revealed that about 132 crores in UAE Dirhams, USD 6 lakh, 45 crores in Saudi Riyals, and 10 crores in Kuwait Dinars were collected from these countries as deposits and investments.

“We have sent a team to Maharashtra on Monday to get the custody of Nowhera Shaikh. We have shared the information with all the top investigating agencies regarding the foreign accounts and financial transactions in other countries,” said the investigating officer in the case who is the CCS assistant commissioner of police, K Ram Kumar.

The CCS has so far arrested three accused, identified as Nowhera Shaikh, her associate Biju Thomas — a native of Kochi in Kerala — and manager of the company Molly Thomas.

Police have also identified Nowhera Shaikh’s properties which are located in Telangana state, Andhra Pradesh, Delhi, Maharashtra and Karnataka. Central Crime Station personnel may attach Nowhera Shaikh’s Rs. 100 crore properties.

Under 41 of CrPC, the CCS has issued a notice to Nowhera’s son Abu Bakar and identified him as a key person involved in running the business in Dubai, and managing Mannan Institute of Science and Technology in Chevella.