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Nation Crime 19 Jan 2019 20 Heera Gold bank a ...

20 Heera Gold bank accounts frozen for fraud

DECCAN CHRONICLE.
Published Jan 19, 2019, 1:32 am IST
Updated Jan 19, 2019, 1:32 am IST
The Hyderabad-based company that siphoned off huge sums of money from investors of Malabar region.
The action came on Friday soon after Nowhera Sheikh, head of the company, released a threatening video against those who approach the police with complaints of cheating.
 The action came on Friday soon after Nowhera Sheikh, head of the company, released a threatening video against those who approach the police with complaints of cheating.

KOZHIKODE: The police has frozen 20 bank accounts of Heera Gold Exim, the Hyderabad-based company that siphoned off huge sums of money from investors of Malabar region. 

The action came on Friday soon after Nowhera Sheikh, head of the company, released a threatening video against those who approach the police with complaints of cheating. 

 

The accounts of the company were frozen based on 17 complaints received by the police at Anamangad here, where the company office is located.

Though complaints were filed for frauds worth `20 crore, it is believed that the group had amassed about `300 crore through the Kozhikode branch alone.

Meanwhile, the case will be investigated by the economic offences wing of the Crime Branch as the fraud is above the `2-crore limit set for the local police to investigate, police sources said. 

The police has already submitted a proposal to the police headquarters recommending a CB investigation into the case. The threatening YouTube video had warned the investors that they would lose the amount if they persist with legal proceedings.  The courts will take over a decade to sort out things, it said.

However, the police action has shocked the company and more investors may file complaints.

Nowhera Sheikh, who has been imprisoned in Mumbai prison in connection with financial fraud, had won an anticipatory bail in the complaints filed against her in the state. 

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