1. Heera Group
    Flagship "halal" gold investment scheme 

2. Political life

3. Philanthropy

4. References

Dr. Nowhera Shaik is an Indian politician and current president of the All India Mahila Empowerment Party. She was the founder of Heera Group which ran the 500 crore Ponzi scheme arrested on October 16, 2018 and in jail now.

Heera Group

As per its website, Heera Group claimed that it was a company with diversified operations in various sectors including gold importing, gold trading, textiles, jewellery, mineral water, granite, tours and travels, real estate and e-commerce. Heera Mart, the group's shopping mall is located at Kukatpally, Hyderabad.^[1] As per the chargesheet filed by Telangana police at the behest of investors, its subsequent investigation, and the declaration by the company itself the company started operation in 2008 as a small import and export company called "Hera Exim", renting 5 shop spaces in malls in Hyderabad, namely F1, F2, F3, F14 and F15. The company subsequently bought these spaces, and sold them to Indian Overseas bank and Corporation bank for Rs. 4 crores, the beginning capital investment for the group's subsequent activities. Subsequently, the shop shifted to Poatpally, and opened a large head office and call center in Banjara hills, claiming to have international operations and floating investment schemes for small investors.

Flagship "halal" gold investment scheme

Its flagship gold investment scheme asked investors, mostly lower and middle class people, to invest Rs. 1 lakh. In return, as per the policy document, these investors received Rs. 3,000 per month, an ROI of 36% per annum. In 2018, investors began to have doubts in the company when it announced that it would instead pay its investors every 3 months. The company portrayed itself as "Islamic", halal and often used religious sentiment to lure customers.^[2] This led to complaints from investors and a SEBI investigation. Earlier, in August 2012, police charges had been filed on it by Asaduddin Owaisi for cheating a number of small local investors from his constituency Hyderabad.^[3] The company allegedly imported / smuggled large quantities of gold into India from Dubai and sold it in the local market. The company operated as a family concern, with Nowhera Shaikh, her husband Mohammed Sanaullah Qureshi (Salman) and their family members.

Political life

On 16 November 2017, Nowhera founded the All India Mahila Empowerment Party.^[4] The party contested the 2018 Karnataka Legislative Assembly election^[5] and fielded candidates for all 224 constituencies garnering 0.3% vote share.^[6] The party contested from all the 119 constitutencies in the 2018 Telangana Legislative Assembly election and aims to contest in the 2019 Indian general election.^[7]

Philanthropy

After the 2018 Kerala floods, the Heera group donated {{INRConvert|10000000|lk=on|year=2018}} to the Kerala Chief Minister’s Distress Relief Fund with Nowhera donating 100 tonnes of rice and commissioning a shelter for disaster affected children and women.^[8][9]

References

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• Gary Mex Glazner
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• Gary Miller (disambiguation)
• Gary Miller (singer)
• Gary Miller (sportscaster)
• Gary Mills
• Gary Mills (footballer, born 1961)
• Gary Mills (footballer, born 1981)
• Gary Minihan
• Gary Mitchell
• Gary Mitchell (disambiguation)
• Gary Mitchell (Starfleet)
• Gary Mitchell (Star Trek)
• Gary Mokotoff
• Gary Montgomery
• Gary Moorcroft
• Gary Moore (baseball)