In a significant development in the high-profile Heera Gold scam, the directorate of enforcement (ED) has arrested an imposter allegedly acting on the directions of scam accused Nowhera Shaik for attempting to interfere with the agency’s investigation and the auction of attached properties meant to compensate duped investors.
ED’s Hyderabad zonal office says it arrested Kalyan Banerjee on 10 January 2026 under the Prevention of Money Laundering Act (PMLA), 2002. Mr Banerjee was produced before the Special PMLA Court at Nampally on 11 January and was remanded to judicial custody till 23 January 2026.
ED has been investigating the Heera Gold case against Ms Shaik and others based on multiple first information reports (FIRs) registered by police authorities across several states. According to investigators, Ms Shaik and her associates allegedly collected more than ₹5,978 crore from gullible investors by promising returns of over 36% a year, but failed to return even the principal amount.
The money laundering probe revealed that part of the alleged proceeds of crime was used to acquire immovable properties in the names of Ms Shaik, her companies and her relatives. So far, ED has attached assets worth around ₹428 crore in the case. Prosecution complaints and supplementary complaints have already been filed before the Special PMLA Court in Hyderabad.
As part of efforts to restore funds to victims, ED moved the Supreme Court seeking permission to auction confirmed attached properties. After securing approvals from the apex court, the agency began auctioning the assets through the State-run MSTC Ltd, in compliance with the Court's directions.
However, ED states that Ms Shaik repeatedly attempted to stall the auction process by moving to court. To block the most recent auction held on 5 January 2026, she approached the Telangana High Court alleging malafides in the auction process. The petition was dismissed, with the court imposing an exemplary cost of ₹5 crore on Ms Shaik and directing that the amount be deposited in the prime minister’s relief fund.
According to ED, after failing to protect properties allegedly acquired from proceeds of crime through legal means, Ms Shaik engaged Mr Banerjee on a monthly remuneration and commission basis. Mr Banerjee allegedly began calling and messaging ED officers, falsely projecting himself as being close to senior bureaucrats and politicians.
The agency says he attempted to entice officers to manipulate the auction process. When officials insisted on following due legal procedure, Mr Banerjee allegedly resorted to threats and pressure tactics to stall the auctions.
Following intelligence inputs, ED established that Mr Banerjee was an imposter who claimed to be a consultant to various government departments and falsely portrayed proximity to influential figures. He was also found to have provided incomplete address details in the know-your-customer (KYC) documents associated with his mobile SIM cards.
A search was conducted under Section 17 of the PMLA at his premises in Secunderabad on January 10, 2026. ED says mobile phones seized during the search contained incriminating WhatsApp chats with Ms Shaik and her associates. The chats allegedly revealed attempts to manipulate the investigation and judicial proceedings, efforts to alienate and sell attached properties and plans to earn large commissions through illegal deals.
In his statements recorded under the PMLA, Mr Banerjee allegedly admitted to impersonation and to acting under the directions of Ms Shaik and her associates. Investigators said he knowingly assisted them in activities connected with the proceeds of crime.
ED says the arrest demonstrates that any attempt to interfere with its investigations will be dealt with firmly and in accordance with the law. Further investigation into the Heera Gold scam case is ongoing.
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