The Enforcement Directorate (ED) on Friday said it has arrested Nowhera Shaik, the prime accused in the Heera Group-linked alleged investment fraud in Hyderabad, from Gurugram, Haryana.
Shaik was arrested under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. She was absconding and was arrested with the assistance of the Haryana Police.
She was brought to Hyderabad and produced before a PMLA Court on Thursday late night, which remanded her to judicial custody.
ED initiated its investigation based on multiple FIRs registered by the Telangana and Andhra Pradesh Police against Nowhera Shaik, Molly Thomas, Biju Thomas, and the Heera Group of companies, for allegedly duping 1.72 lakh depositors across India of more than Rs 3,000 crore.
During the investigation, it was found that deposits were collected by Nowhera Shaik from investors across the country on the pretext of investment in the Heera Group of Companies by promising returns of around 36% per annum, but the promised profits and principal amounts were not returned.
Shaik and related persons allegedly diverted depositor funds into personal accounts through company bank accounts for wrongful gain and accumulated substantial movable and immovable assets using illegally obtained money. ED identified multiple properties purchased from proceeds of crime and attached them under the provisions of the PMLA, 2002.
According to ED, Nowhera Shaik had filed a writ petition before the Supreme Court and attempted to derail the ongoing investigation by presenting incorrect facts.
During the investigation, Shaik allegedly sold some already attached ED properties by submitting a false affidavit before the concerned Tehsildar and revenue officials, thereby generating further proceeds of crime. Accordingly, an FIR was registered against her.
The Supreme Court directed the ED to initiate auction of all attached properties prior to trial. It also directed Shaik to cooperate with ED in ongoing auction proceedings and execute sale deeds for properties registered in her name or in the name of her associates, using proceeds of crime.
“ED had initiated auction proceedings, and some of the properties were successfully auctioned, fetching almost Rs 122 crore. Nowhera Shaik was asked to execute the sale deed of the auctioned properties, however she failed to cooperate. She made repeated attempts to obstruct the auction proceedings,” the ED said.
However, taking serious note of her conduct, the Supreme Court directed Shaik to surrender before jail authorities within one week and execute sale deeds of 16 auctioned properties within two months, as per its order dated April 8, warning that non-compliance would lead to issuance of an NBW and cancellation of bail.
However, she did not surrender to the jail authorities. Since she did not cooperate, ED approached the Special PMLA Court seeking cancellation of bail and issuance of a non-bailable warrant in compliance with the Supreme Court order dated April 8.
“During the said bail cancellation and NBW proceedings, she tried to mislead the Special Court. She filed an affidavit wherein she stated that she had surrendered before the jail authorities at Hyderabad, however, they denied taking her into custody. The court enquired from jail authorities, who informed that she never approached them for surrender,” the ED said.
The Special PMLA Court observed her misleading conduct and issued a non-bailable warrant against her on May 7, directing ED to execute the warrant and produce her before the court. The court also cancelled her bail in the matter.
Based on inputs, ED made efforts to apprehend Shaik in Bengaluru, but she was not found there. Subsequently, the agency received a tip-off that she was hiding in Gurugram under a fake identity using forged documents and was accompanied by associate Sameer Khan.
A team of ED along with Haryana Police traced her location and vehicle. A joint operation was carried out, and Shaik was apprehended on May 21 at Salt Stayz, Sector-45, Gurugram, where she was staying under an Aadhaar identity in the name of Shaik Khamar Jahan along with Sameer Khan.
