Nowhera Shaik arrested for misappropriating ₹3,000 crores by calling interest ‘Haram’

(‘Haram’ means forbidden according to Islam.)

Gurugram (Haryana) – In a joint operation, the Enforcement Directorate (ED) and Haryana Police recently arrested Nowhera Shaik, founder of the ‘Heera Group of Companies’, from Gurugram. Nowhera, who is accused of carrying out a massive ₹3,000-crore fraud by deceiving lakhs of people across the country in the name of Sharia law, had reportedly been absconding for the past month.

Gurugram (Haryana) – Heera group chief Nowhera Shaikh, who embezzled ₹3,000 crores by calling interest 'Haram', arrested by ED

This is an example showing that Muslim women are also at the forefront of crime.#CrimeNews pic.twitter.com/yHeRHzSyQJ

— Sanatan Prabhat (@SanatanPrabhat) May 26, 2026

1. According to Sharia law, earning or paying interest is considered completely ‘haram’. Because of this religious belief, many Muslims avoid depositing money in banks. Nowhera exploited this and cleverly devised an investment scheme. She established an organisation called the ‘Heera Group’ and particularly targeted Muslims.

2. In this scam, more than 1.72 lakh investors are believed to have lost around ₹3,000 crores.

3. After the Supreme Court rejected her interim bail plea and ordered her to surrender before the Police, Nowhera had reportedly been absconding for a month.

4. Following the strict stance adopted by the Supreme Court, the ED has so far seized assets worth ₹400 crores belonging to Nowhera and her relatives.