Fugitive Economic Offender Rashid Naseem Arrested in Dubai, ED Seeks Extradition

Rashid Naseem, promoter of Shine City Group and a fugitive economic offender wanted in Uttar Pradesh for an alleged Rs 800-1,050 crore investment fraud, was arrested in Dubai by UAE authorities following a request from India's Enforcement Directorate (ED). Declared an outlaw under the Fugitive Economic Offenders Act in April 2025, Naseem allegedly collected funds through fraudulent real estate schemes and multi-level marketing, diverting them to luxury assets. The ED has submitted extradition requests and is arranging his return to India, where multiple cases and asset confiscations are ongoing.