HYDERABAD: Enforcement Directorate (ED) sleuths searched five different properties belonging to the Heera Group of companies, its managing director Nowhera Shaik and others in the city on Saturday.
In an official statement released on Monday, the agency revealed that during the raids, they seized Rs 90 lakh in cash, 12 high-end cars and 13 property documents worth Rs 45 crore under the name of Heera Group of companies, Nowhera and her relatives and associates.
The ED also seized 11 benami property documents amounting to `25 crore in book value and recovered several other incriminating documents and digital devices, it added.
Earlier, the agency had provisionally attached properties worth `400 crore owned by the Heera Group of companies in connection with a case registered under the Prevention of Money Laundering Act.
The companies and its MD have been accused of cheating lakhs of investors by collecting thousands of crores in investments on the promise of providing high returns. The ponzi scheme was carried out in the name of gold trading.
