Heera Gold fraud: 5th FIR filed at Kashimira, 6th likely at Malegaon

  • | Tuesday | 20th November, 2018

"In the Kashimira case, the 46 investors who have filed a complaint said that they had invested in deposit schemes of Shaikh's firm and were promised 36% returns annually. We will soon be registering a case against Heera Gold. She also floated the All India Mahila Empowerment Party, which contested the recent assembly elections in Karnataka , but drew a blank. The case has been handed over to the Thane economic offences wing (EOW). The police have booked Shaikh and staffers at her Kashimira firm branch.Shaikh was first arrested by the Hyderabad police and later the Mumbai EOW took her custody.

MUMBAI: The Kashimira police have booked Nowhera Shaikh, managing director of Heera Group of Companies which is facing many legal cases of cheating investors across the country, for allegedly duping around 46 investors of over Rs 4.1 crore. The case has been handed over to the Thane economic offences wing (EOW). This is the fifth cheating case against Shaikh in the last two months.Shaikh is currently in Thane police custody for a similar offence.Meanwhile, the Malegaon police said they too will soon file a case against Shaikh as they have received payment defualt complaints from a schoolteacher and a resident, who had invested Rs 6.4 lakh and Rs 10 lakh respectively in Heera Gold. "The matter is under inquiry," said Neelotpal, additional SP of Malegaon. "The teacher was promised 40% return annually. A group of investors came to us and we have asked them to give a consolidated complaint. We will soon be registering a case against Heera Gold."In the Kashimira case, the 46 investors who have filed a complaint said that they had invested in deposit schemes of Shaikh's firm and were promised 36% returns annually. The police have booked Shaikh and staffers at her Kashimira firm branch.Shaikh was first arrested by the Hyderabad police and later the Mumbai EOW took her custody. The police have also frozen 50 of her firms' bank accounts and suspect that the entire fraud is over Rs 500 crore.Shaikh's 17 companies were registered, but only three of them are functional with a total turnover of over Rs 1,000 crore, said the police. She also floated the All India Mahila Empowerment Party, which contested the recent assembly elections in Karnataka , but drew a blank.

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