Entrepreneur Politician Nowhera Shaik was arrested by Hyderabad Police for allegedly cheating investors, The News Minute has reported. Her party, All India Mahila Empowerment Party had contested in 2018 Karnataka Elections which were concluded in May.

Shaik is the Managing Director of Heera Group of Companies. She was arrested during investigation of a complaint filed against her in Banjara Hills Police Station for cheating, criminal breach of trust and criminal intimidation. She has been booked under provisions of Telangana Deposits of Financial Establishment Act 1999 and The Prize Chits and Money Circulation Schemes (Banning) Act, 1978.

"Many of the companies are involved in collection of deposits/investments in different modes of gold scheme from public, where in these companies commit a return of around 36 per cent per annum for the invested amount," a police statement said.

Heera Group of Companies is under investigation by the Central Crime Station (CCS) division of the Hyderabad police for financial frauds. More than 160 bank accounts have been identified across India during the investigation by the police. Details of accounts are being sought from concerned banks.

Nowhera Shaik is heading 15 companies under different names under the Heera Group of companies according to police sources who spoke to The News Minute.