Rashid Naseem, Shine City Group Promoter, Arrested in Dubai

Rashid Naseem, the promoter of Shine City Group and a fugitive economic offender, has been arrested in Dubai for an alleged investment fraud in Uttar Pradesh, India. He is accused of collecting approximately 1,050 crore from investors through fraudulent real estate schemes and failing to deliver promised returns. The India===Enforcement Directorate initiated a money laundering probe based on numerous cases filed by the India===Uttar Pradesh Police. The India===Enforcement Directorate secured an International===Interpol Red Notice and an extradition request through the India===Ministry of External Affairs, leading to his arrest by United Arab Emirates authorities. A special court in Lucknow had previously declared Rashid Naseem an outlaw under the Fugitive Economic Offenders Act and ordered the confiscation of his assets worth 127.98 crore. The India===Enforcement Directorate has also filed chargesheets and arrested eight individuals, including Rashid Naseem's brother, Arif Naseem, and attached assets worth 267 crore.