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ED makes three arrests in Shine City fraud case
The Enforcement Directorate (ED) on Tuesday arrested three persons, including a woman, in connection with its ongoing investigation into a money laundering case in the alleged Shine City scam, an official said.
New Delhi: The Enforcement Directorate (ED) on Tuesday arrested three persons, including a woman, in connection with its ongoing investigation into a money laundering case in the alleged Shine City scam, an official said.
The official said the trio, identified as Asif Naseem, Amitabh Kumar Srivastava, and Meera Srivastava, were produced before a special PMLA court in Lucknow, which sent them to seven-day ED custody.
In January 2021, the Enforcement Directorate (ED) filed charges against the group and its founders, siblings Rashid and Asif Naseem, accusing them of laundering around Rs 800 crore.
This followed numerous police complaints alleging fraud and swindling of investors. Subsequently, properties belonging to the group valued at Rs 128 crore were seized.
Meanwhile, Rashid, the elder brother, fled the country and is believed to be operating from the UAE.
The Economic Offences Wing (EOW) of the Uttar Pradesh police, which was handling around 450 cases related to this matter across various police stations, sought Rashid's extradition through the Abu Dhabi Embassy in India in October 2022.
