ED arrests Heera Group associate in money laundering case

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The Enforcement Directorate (ED) has arrested Nazneen Ansari alias Abida in connection with its money laundering investigation into the Heera Group and its alleged investment fraud case.

According to the agency, Nazneen Ansari was arrested by the Hyderabad Regional Office on June 2 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. She was produced before a special court and the investigation is continuing.

The ED’s probe stems from multiple FIRs registered by police in Telangana and Andhra Pradesh against Nowhera Shaik, the Heera Group of Companies and others over allegations of collecting large sums from investors through fraudulent investment schemes.

Investigators alleged that Ansari worked as the personal assistant to Nowhera Shaik and played an active role in activities linked to properties attached by the ED during the course of the investigation. The agency claimed that she was involved in taking possession of attached properties, collecting rent from them, encouraging fresh investments into the Heera Group and misleading officials.

According to the ED, the investigation revealed that Ansari and others were allegedly in possession of and using properties identified as proceeds of crime and were involved in their continued commercial exploitation.

The agency further alleged that despite being aware of the ongoing investigations against the Heera Group, she continued to participate in raising investments from prospective investors.

The ED stated that evidence collected during the investigation indicated that Ansari knowingly assisted in activities relating to the possession, use, concealment and generation of proceeds of crime, thereby attracting provisions of the Prevention of Money Laundering Act.

The agency also alleged that although several attached properties were auctioned in compliance with directions issued by the Supreme Court, Ansari was aware of the court’s orders and deliberately obstructed the auction process by directing staff not