ED's Request Leads to Arrest of UP Fugitive Economic Offender Rashid Naseem in UAE

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Fugitive Economic Offender Rashid Naseem Arrested in UAE on ED's Request

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News18•27-02-2026, 14:30

Fugitive Economic Offender Rashid Naseem Arrested in UAE on ED's Request

•Rashid Naseem, promoter of Shine City Group, arrested in UAE for alleged investment fraud.
•He was declared an outlaw under FEOA by a Special PMLA court in Lucknow in April last year.
•ED initiated a money laundering case based on 554 cases registered by UP Police against Naseem and Shine City Group.
•Funds worth Rs 800-1,000 crore were allegedly collected through fraudulent real estate schemes.
•Naseem fled India via Nepal and was residing in Dubai; his assets worth Rs 127.98 crore were confiscated in December 2025.

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