HYDERABAD: The Enforcement Directorate (ED) conducted raids on five properties associated with the Heera Group of companies and its managing director, Nowhera Shaik, on Saturday. 
In their statement on Monday, the ED disclosed that the raids resulted in the seizure of ₹90 lakh in cash, 12 high-end cars, and 13 property documents valued at ₹45 crore. Additionally, 11 benami property documents worth ₹25 crore and several incriminating documents and digital devices were confiscated.
Previously, the ED had provisionally attached properties valued at ₹400 crore belonging to the Heera Group under the Prevention of Money Laundering Act. The group and its MD are accused of defrauding numerous investors by promising high returns through a fraudulent gold trading scheme.