Heera Gold founder Nowhera Shaikh walks out from Mumbai jail
By SM Bilal| Updated: 23rd January 2021 12:34 am IST
Mumbai: Three days after the Supreme Court of India granted conditional bail, the Heera Gold Founder and CEO Nowhera Shaikh on Friday walked out of Byculla Jail in Mumbai.
The Apex court order and her release from the jail evoked mixed response after her supporters and investors too were spotted near the By-culla jail to welcome her.
In October 2018, Nowhera Shaikh, Founder and Chairperson of Heera Gold, an investment and finance firm was arrested by the Hyderabad Crime Branch for allegedly collecting money from thousands of Muslims from India and abroad in the name of high dividends. Police of other states too had arrested her for allegedly cheating the investors.
Nowhera Shaikh walks out of jail to a rousing welcome
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Heera Gold scam accused Nowhera Shaik gets interim bail
By Sameer| Published: 21st January 2021 2:04 pm IST
Hyderabad: The
Supreme Court on Tuesday granted interim bail to Heera Gold scam accused Nowhera Shaik. The court gave six weeks’ time to her to return the money of the investors who have registered complaints against her.
According to the Times of India report, she is accused of collecting Rs. 5600 crore from 1.72 lakh investors. The investments were collected in the name of a gold Ponzi scheme.
Rise and fall of Nowhera Shaik
Nowhera Shaik is a resident of Hyderabad and had started a group by name Heera Group in 2010 that founded 15 companies. In 2017, she tried to enter politics too by floating a party by name All India Mahila Empowerment Party.
Nowhera Shaikh gets bail
Tuesday January 19, 2021 10:00 PM, ummid.com News Network
New Delhi: The Supreme Court of India Tuesday granted bail to Heera Gold CEO Nowhera Shiakh.
Nowhera Shaikh was arrested in October 2018 by Hyderabad police. Later on, cases were filed against Nowhera Shaikh and Heera Gold in different states and by different people, mainly by investors.
The Supreme Court of India granted six weeks conditional bail to Nowhera Shaikh, her close aides present in the Supreme Court said.
Nowhera Shaikh got bail after she filed an affidavit stating her release from jail is necessory to return the money to investors.
Image used for representational purpose only
HYDERABAD: Chinese national Zhu Wei alias Lambo, who was arrested by Hyderabad police in connection with instant financing app business in India, is unlikely to be sent back to his native country any time soon and held here for several years. Police said Lambo will be made an accused in all the relevant loan app cases.
Police said Lambo s companies apps were primarily responsible for defaming and shaming loan defaulters. As Lambo s companies apps figured in a majority of the 27 cases, police have decided to make the Chinese national an accused in all the relevant cases.
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