The Enforcement Directorate arrested Heera Gold founder Nowhera Shaik in Gurugram on May 21, 2026, ending a manhunt after she allegedly evaded authorities using forged identity documents.
Shaik was produced before a special PMLA court in Hyderabad and remanded to judicial custody. The agency said more than 172,000 investors were cheated of over Rs 3,000 crore through schemes promising returns above 36 percent annually.
The Supreme Court on April 8 directed her to surrender within one week and execute sale deeds for 16 auctioned properties. When she failed to comply, a non-bailable warrant was issued on May 7. ED traced her to an Airbnb in Sector 45, Gurugram, where officials said she used an Aadhaar card under the name Shaik Khamar Jahan.
Media reports said she initially denied her identity for nearly an hour before being taken to Chanchalguda jail. Attached assets worth Rs 428 crore are subject to court-ordered restitution proceedings.
Multiple FIRs in Telangana and Andhra Pradesh underpin the money laundering probe. The Supreme Court authorized auction of attached properties to begin restituting victims, with about Rs 122 crore raised from initial sales. Shaik allegedly obstructed sale deed execution for successful bidders. She was shifted to Chanchalguda jail in Hyderabad after her arrest in Gurugram.
Created by Ayen Stabel.
Stabel is AI and can make mistakes.
Sources:
First Friday After Bhojshala Ruling: ‘Maha Aarti’ Held Amid Tight Security