ED gets custody of Nowhera Shaik

The Enforcement Directorate (ED) secured permission from a local court to take custody of Heera Group of Companies founder Nowhera Shaik and her aides Molly Thomas and Biju Thomas to collect more information from them on the accounts of suspicious persons who had links with foreign countries.

The three were arrested by the Central Crime Station (CCS) police on charges of duping gullible people in the name of Ponzi schemes and were lodged in the Chanchalguda prison.

Since beginning of the case, the CCS sleuths have been sharing information with investigating agencies like ED and Income Tax (I-T) Department to know transactions carried out by Nowhera Shaik in the country and abroad, an official said. Following the custody of Shaik, investigators would be able to know the details of bank accounts held in the name of the accused and their companies. It would also enable them identify movable and immovable properties gained wrongfully in India and abroad by diverting



huge sums fleeced from depositors. It would also help in securing details of other companies and persons involved in the conspiracy.

An official said that more than 240 bank accounts related to Shaik and her companies and directors were so far identified across India. On verification, only Rs 25 crore was found in the bank accounts and the same was frozen under Section 102 of CrPc.

This apart, several foreign bank accounts of Shaik were also found during investigation. Investigators found that Shaik established 15 companies under the the Heera Group, some of which were shell companies. In all, seven cases in Telangana, three each in Andhra Pradesh and Karnataka, one case in Kerala and eight cases in Maharashtra and other States were pending against Shaik.

The police have identified 81 properties belonging to Shaik in Telangana, Andhra Pradesh, Delhi, Maharashtra, Kerala and Karnataka.