Hyderabad: Nowhera Shaikh, the managing director of the Hyderabad-based Heera Gold group, is facing charges for her involvement in a ponzi scheme case.
Already, the Andhra Pradesh CB-CID (Criminal Investigation Department) police are investigating her. Now, with the permission sanctioned by the Court, the Telangana police have taken Nowhera Shaikh into five days of custody where the Cyberabad Police will investigate her.
The Hyderabad Central Crime Station (CCS) officials arrested her for the first time in October last year on charges of cheating, criminal breach of trust and criminal intimidation.
Shaikh floated 20 subsidiary companies, collected hundreds of crores and allegedly duped the investors in various parts of the country by promising high returns.
According to the police, the turnover of Nowhera Shaikh's business increased from Rs 27 lakh in 2010-11 to Rs 800 crore in 2017-18.