Hyderabad: Hyderabad central crime station officials who filed a chargesheet in the case registered against the Heera Group, have named about seven persons as accused for the alleged diversion of investments and cheating public. Police has also produced a list of 80 properties registered in the name of the company and its chairman Nowhera Shaik valued at about Rs 1,000 crore.
On Wednesday, CCS police filed a 1,000-page chargesheet before the Metropolitan Sessions Judge in the 12 cases registered against the Heera Group.
Police submitted around 75,000 exhibits along with the chargesheet which include the financial transactions of the company through its bank accounts.
Officials from CCS said that seven persons including Nowhera, Molly Thomas and Biju Thomas were named in the chargesheet. The persons supporting her in executing the fraud could not be traced and are suspected to be abroad.
In the complaints received by CCS police where 200 victims from Telangana state who invested over `23 crore were identified, police did not find any suspicious investors. When they examined other investments, they could not trace the persons who invested the money.
“Several issues need to be unearthed in the fraud by the Heera Group. The company has over 1.2 lakh investors, but there were many investors who could not be identified. Around `250 crore was deposited with the Heera Group from abroad in various currencies. There is no trace of where the money was diverted or transferred to shell companies run by the Heera Group,” an official said.
Around 80 properties with a market value of nearly Rs 1,000 crore have been identified among which 30 have been attached in the cases under Protection of Interest of Depositors in Financial Establishments Act, following a nod from government, while the other 50 would be attached soon.
Officials said that new bank accounts were opened to deposit the money that the company was collecting in the form of rents from private persons. When asked how a Class X passout managed to run the business, an official said, “Someone else is running it (illegal business) and placing her in the forefront. Only Nowhera can answer this and she will not.”...