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Lucknow: The ED has got a big success in the Shine City scam. The special court of Lucknow has declared promoter Rashid Nasim, a promoter of Shine City Group of Companies, as a fugitive economic criminal. The Uttar Pradesh Police has registered around 554 FIRs against Rashid Naseem and his companies. It is alleged that 800 to 1000 crore rupees were cheated from people in the name of investment. People were charged money by promising breathtaking returns and then Rashid Nasim escaped.
Property worth Rs 189.39 crore has been attached
In the Shine City scam, the ED investigated the money laundering. In which many revelations were made. ED has so far attached assets worth Rs 189.39 crore. Investigation revealed that Rashid Nasim had left India and fled to Dubai. Non-bailable warrant, lookout circular and red corner notice have also been issued against him.
554 FIRs are lodged against Naseem and his companies
Earlier, ED’s Lucknow Zonal Office started the process of declaring Rashid Nasim, a promoter of Shine City Group, a fugitive economic criminal. Applications were filed under the Fugitive Economic Offenders Act (FEOA), 2018 before Special Court (PMLA), Lucknow. The special court accepted the application and hearing the case. Rashid is accused of charging about 800 to 1000 crore rupees from people in the name of investment and cheating by returning money.
The ED had started an investigation against Rashid and Shine City Group of Companies on the basis of about 554 FIRs lodged by the Uttar Pradesh Police. The ED investigation found that Rashid was involved in the crime of money laundering. The ED filed four complaints in this case.
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