Lucknow, 27 February: Rashid Naseem, the absconding prime accused in the Shine City scam case, has been nabbed in the United Arab Emirates (UAE). This action was taken on the request of the Enforcement Directorate (ED).
According to preliminary information, cases have been registered against the fugitive Rashid Naseem in several districts of Uttar Pradesh, including Lucknow, in connection with investment fraud and money laundering.
He is accused of defrauding people of crores of rupees by promising them lucrative returns in the name of investment.
Sensing the police tightening its grip, Rashid Naseem fled the country and went to Dubai in 2019. Now, on the ED-EOW’s extradition request, the Dubai police have arrested him.
It is noteworthy that in April last year, the Lucknow-based special Prevention of Money Laundering Act (PMLA) court declared Shine City promoter Rashid guilty under the Economic Offenders Act (FEOA).