Bengaluru: Nowhera Schema also known as Nowhera Game is a form of fraud that lures Muslim Investors in the name of Halal Investment and pays profits to earlier Investors with the funds from the most recent Muslim Investors. The Scheme leads the victims that the profits are coming from the business generated from the company which deals in Halal Trading and Halal Business like Online Gold Trading, and they remain unaware that other Muslim Investors are the source of funds. Nowhera Scheme is quite similar to that of Ponzi Scheme but is slightly different from this as it only targets the particular community and also uses Islamic sharia to target the victims. A Nowhera scheme can maintain the illusion of a sustainable Halal Business as long as new Muslim investors contribute new funds, and as long as most of the Muslim investors do not demand full repayment and still believe in the non-existent business they are purported to own.
The Scheme is named after Dr.Nowhera Shaik who became notorious criminal for using the technique in the year 2018 and was arrested in October 2018.
The Idea has been carried out by other various companies in a small way by Ambidant Marketing, Ajmera Group, Injaz, Aala Ventures, IMA (I Monetary Advisory), Muzariba, Baraka, etc…. among which Ambidant was first company detected running the scheme in the name of Halal Investment in the Year 2017. The Nowhera Scheme was still not detected at this time and hence was declared a Ponzi scheme. Soon the news about Ambidant Scam spread across India and upon realising the facts few complainants started registering FIR against the company “Heera Group” and it’s CEO Dr. Nowhera Shaik.
It was when the FIR’s started being registered from the Muslim Investors about Heera Group and it’s CEO Dr.Nowhera Shaik the whole world came to know that the first kingpin behind Ponzi Scheme in the name of Halal Investment who has lured close to eleven lack Muslims both in India and rest of the world to the tune of over Rs.50,000/- Crore and was running this fraud scheme since 1998 and was never detected, hence this type of Ponzi Scheme is named after her name as “Nowhera Scheme”
Dr.Nowhera Shaik is also crowned as the Ponzi Queen of the world by the eleven lack Heera Group Victims and is currently in Jail and being prosecuted in the Indian Court of Law after which it is Heard that she will also be prosecuted in the Court of Law of other Countries too. especially Gulf Countries.