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

Rashid Naseem, promoter of Shine City Group and declared a fugitive economic offender by a Lucknow court under the Fugitive Economic Offenders Act, was arrested in Dubai, UAE, following a request by India's Enforcement Directorate. He is accused of defrauding investors of Rs 800-1,000 crore through fraudulent real estate schemes and multi-level marketing. Naseem fled India via Nepal after evading investigation. The Lucknow court ordered confiscation of his assets worth Rs 127.98 crore in December 2025. The ED submitted a dossier to UAE authorities in January 2026 to facilitate his arrest.