[2] Earlier in the month of September 2024, the Crime Investigation Department (CID) of Andhra Pradesh apprehended Shaik in Chittoor following multiple complaints across the state.

In 2018 Shaik was arrested for allegedly running a Ponzi scheme assuring returns of 36% per year for the investment under the disguise of Heera Group and the total amount involved was more than ₹5000 crore from 1.72 lakh investors.

Heera Group has been accused of cheating lakhs of investors by collecting thousands of crores in investments on the promise of providing high returns.

[8][9] A First Information Report(FIR) has been filed by a benagaluru based software company 1help Technology & Software Solutions Pvt Ltd against Heera Group CEO Nowhera Shaik and her 5th husband Sameer Khan for threatening the company directors Mohammed Akheel and Mohammed Muneeb Khan for not repaying their due amount in Banjara Hills Police station of Hyderabad.

[17][18][19] In 2018, Gulf News reported that Nowhera Shaik used photo-editing software to create fake awards for herself to gain the trust of potential investors.