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Shivamogga: Cheating complaint - Nowhera Shaikh in police custody

  •   Mon, Jul 29 2019 08:43:50 AM

Daijiworld Media Network - Shivamogga (SP) 

Shivamogga, Jul 29: The city police have taken into custody Nowhera Shaikh, president of Mahila Empowerment Party and entrepreneur, in case of cheating. 

It is said that Nowhera Sheikh was operating a Ponzi scheme through her Heera Group. The company had promised interest of Rs 3,000 per month to people depositing one lac rupees with the group. Many had invested money in the group. Over 20 people from Shivamogga had invested over RS 25 lac in the firm and they used to get interest promptly for some time. It is said that they have not been getting interest payment of late. As there was no clarify on the return of deposits, these people had filed police complaint in the cyber, economic offences and narcotics police station. 

Recently, Nowhera had been arrested by the Hyderabad police. As many in the city feel cheated by her, the police from here took her into custody and bought her here for investigation.
  

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  • observer, Mangalore

    Mon, Jul 29 2019

    Interference of politicians and their demand "haftha" is one of the major factors behind collapsing of few schemes. We have seen 100s of such scandals in the past from many decades in India and abroad as well. Human being by nature is greedy. Hope this scam will turn out to be the last nail to realize the investors.

    DisAgree [8] Agree [7] Reply Report Abuse

  • H. Almeida., Bendur/Andheri

    Mon, Jul 29 2019

    Why in our nation, investments in banks and financial institutions, are termed as Haraam ??? Whereas investments in illegal, dubious, transactions as Hallal ??? These funds are undocumented, hence NIL taxes, are deposited in the national treasury !!! These funds are utilized for anti national activities, hell bent to destroy the unity and social fabric of our natiom !!!!

    DisAgree [2] Agree [27] Reply Report Abuse

  • RANGA, MANGALORE

    Mon, Jul 29 2019

    Good analysis...look at the Gold smuggler get caught daily in our Airport, in a year its worth several crores...where its going..for whom these people working..is this allowed....why 99% are from same locality, state..

    DisAgree [3] Agree [18] Reply Report Abuse

  • Moshu, Mangaluru

    Mon, Jul 29 2019

    @Ranga
    Do you have any clue where exactly gold would deliver when the passenger caught at airport and the gold under his possession slip into the hands of custom authorities and the passenger on the other side lands in jail empty handed.

    DisAgree [7] Agree [1] Reply Report Abuse

  • Abdul Rauf, Jeddah

    Mon, Jul 29 2019

    What about Nirav Modi and Vijay Malya?

    DisAgree [16] Agree [14] Reply Report Abuse

  • Moshu, Mangaluru

    Mon, Jul 29 2019

    @Almeida
    What's the fault of the investors btw. You have raised a valid question about halal and Haram. To understand the basics of Islam you should visit your nearest Islamic library center surrounding your location. This is not the right platform for religious discussion. I can also raise many issues about Christianity which I could not get through well.

    DisAgree [4] Agree [3] Reply Report Abuse

  • Eric Coelho, Mangalore

    Mon, Jul 29 2019

    Both were greedy i.e., the giver and receiver. The deposit receiver promised 36% p.a. on Rs. 1 Lakh investment to an investor. I don't the cheater I blame the investor as he turned out to be a fool. Now run from pillar to post to get back that money. Both are crooks.

    DisAgree Agree [12] Reply Report Abuse

  • Evans Sumitra, New York, USA.

    Mon, Jul 29 2019

    The idiots who invested their money in this Ponzi scheme are the biggest fools of the first water. I doubt whether they will get their money back. I hope so.

    DisAgree [1] Agree [14] Reply Report Abuse

  • sanjeev, mangalore

    Mon, Jul 29 2019

    Please stop illegal activity.

    DisAgree [2] Agree [13] Reply Report Abuse

  • madanson, mangalore

    Mon, Jul 29 2019

    In India only poor people pay tax properly. these people are investing in this kind of Ponzi scheme & blame GST role for their lose.

    DisAgree [4] Agree [14] Reply Report Abuse

  • H. Almeida., Bendur/Andheri

    Mon, Jul 29 2019

    Greed is the root cause of all EVIL !!!!! Another Hallal scam, tumbling out of a new closet !! Only shady, underground crooks, will ensure, 36% returns, on investment's !!!! Their religious beliefs and ideologies, encourages investors, to invest in shady, dubious, underground schemes, as Hallal pious investments ! Whereas condemning, banks and legal financial institutions as Haraam !!!!!!! These funds are utilized to destabilise and destroy our nation !!!! The Central government must harshly, crackdown on these dangerous criminals activities at the earliest !!!!!!!!

    DisAgree Agree [14] Reply Report Abuse

  • Shankar, Mangaluru

    Mon, Jul 29 2019

    These women and men are all same when it comes to illegal activities!!!!

    DisAgree [7] Agree [59] Reply Report Abuse

  • Jagdish, mumbai

    Mon, Jul 29 2019

    hahahaha...you are right thats what they thought.

    DisAgree Agree [7] Reply Report Abuse

  • S Shetty, Tulunad

    Mon, Jul 29 2019

    Why Most of the Muslims only doing this kind of Ponzi Schemes,

    My dear Muslim Brothers and Sisters please do nor follow for such prays, and do not encourage such acts as well, easy money leads to this.

    DisAgree [5] Agree [59] Reply Report Abuse

  • Rampanna, Udupi

    Mon, Jul 29 2019

    Rs. 3000 pm return on Rs. 1 Lac investment – That is around 36% return per annum!!! What kind of legal business could possible generate that kind of return as a passive income?

    Who are these investors who are ‘smart’ enough to have spare cash available for investment; but ‘dumb’ enough to believe that a 36% return from a passive income is achievable in this day and age?

    DisAgree [2] Agree [38] Reply Report Abuse

  • prasad, mangaluru

    Mon, Jul 29 2019

    Credit Card Interest Rate
    HDFC Bank 1.99% to 3.49% 23.88% to 41.88%
    ICICI Bank 1.25% to 3.50% 15% to 42%
    SBI Bank Up to 3.35% Up to 40.2%
    Axis Bank 2.50% to 3.25% 34.49% to 46.78%

    DisAgree [11] Agree [4] Reply Report Abuse

  • Rampanna, Udupi

    Mon, Jul 29 2019

    @Prasad, Mangaluru
    @Shankar, Mangaluru

    Please read my comments again – I said return as a “passive” income.

    Banks may charge 40% interest pa on credit card, but do they offer even quarter of that rate on FD? NO, because they are also exposed to significant credit risk on their advances.

    Right kind of IPO’s / Stocks may offer well over 36% return – but does any fund manager “guarantee” that kind of return? NO, because investment in equity is also exposed to significant market risk.

    The basic question is – 36% return – Is it “possible”? Absolutely yes; Then, is it “probable”? Highly unlikely.

    DisAgree [1] Agree [3] Reply Report Abuse

  • Shankar, Mangaluru

    Mon, Jul 29 2019

    If you chose the right stocks or IPOs and invest, 36% per annum is not impossible.

    DisAgree [6] Agree [10] Reply Report Abuse

  • Seetaram, Kadekar

    Mon, Jul 29 2019

    When these people opt for more dividends from various ponzi schemes why there religion declare interest earned thru banks in there own earned money as haraam. Can anybody explain me money remitted thru illegal way by hundi or havala is not considered Haraam. By doing which are cheating government in crores. Latter on demand we need good infrastructure road electricity water supply gas connection shadhi bhagya hajj subsidy...on whose money..people who are paying tax regularly. Where is your contribution by and large.

    DisAgree [3] Agree [29] Reply Report Abuse

  • Mangalurian, Mangaluru

    Mon, Jul 29 2019

    The investors must be arrested too for supporting a Ponzi scheme.

    But, more importantly, the investors may not be paying any tax on their special earnings.

    DisAgree [3] Agree [22] Reply Report Abuse

  • Sanjay, Hebri

    Mon, Jul 29 2019

    3% for one month, 36 percent for a year...how can they give such high return with doing normal business? People should think before investing.

    DisAgree [2] Agree [24] Reply Report Abuse


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Title: Shivamogga: Cheating complaint - Nowhera Shaikh in police custody



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