Foundation of Heera Gold Scheme:
Nowhera Shaik discovered Gold Trading. It was a turning point in her entrepreneurial journey. Madrassa Teacher Nowhera was a friend to many village women. Nowhera would often buy jewelry from a local jeweler and then sell it to other women in the village. It was her Business Module.
She started a women’s group for investment in 1997-1998. She would share the profits with the group members. Nowhera started a company to expand her business after the business module was a success.
Nowhera called her initial firm “Heera Gold,” which was registered as a Private Limited Company in 2012. The primary purpose of the company was to empower women and give them financial freedom. Nowhera became the founder and CEO of Heera Groups of Companies.
Investors can get 36% to 42% returns with the Heera Gold scheme. The Heera Groups have attracted more than 1.72 Lakhs of investors from across India.
Allegation on Nowhera Shaik and Her Bail:
Many business tycoons began to envy the Heera Group’s rapid growth. They decided to trap Nowhera Shahik and take down her organization. Her enemies have put allegations on her that she has been running a Gold Ponzi scheme in which they claim to get the return of 36% – 42%. And also allege that she has been defaulting on payments and doing mismanagements of funds.
She allegedly cheated investors. Delhi Police first detained her in connection with a Heera Gold Investment fraud case. Later, Dr Nowhera Shaik was into custody by Mumbai Police for the Heera Gold Investment Fraud case.
While Nowhera was realeased by conditional bail, the Supreme Court had ordered Nowhera to repay investors. To comply with the order of the Supreme Court, the Heera Group issued cheques to investors who had filed cases against Nowhera.
After being granted bail by The Supreme Court, she addressed her first press conference. The press meeting was restricted to the media. “I taught women business skills and gave them the tools to succeed.” We have been instrumental in empowering many women since 1998 when the Heera Group was founded,” stated Nowhera.
Nowhera stated that “Heera Group” was ready to pay its bills between all the claims and allegations. We have never fled, and we will not ever flee. The company will introduce new policies and reach greater heights.