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Shine City Group promoter U.P.'s first to be declared 'fugitive economic offender'
Hindustan Times Lucknow
|May 02, 2025
Lucknow special court of Prevention of Money Laundering Act (PMLA) has declared Shine City Group promoter Rashid Naseem a fugitive economic offender (FEO) in a Rs 1,000 crore real estate and investment scam, making him the first individual in Uttar Pradesh to be designated under the Fugitive Economic Offenders Act, 2018.
LUCKNOW: The order was passed on Wednesday by special Judge (PMLA) Rahul Prakash on the Enforcement Directorate's plea, which cited Naseem's continued evasion and confirmed absence abroad despite multiple warrants and an Interpol Red Notice.
This declaration adds Rashid Naseem to a list that includes high-profile fugitives like Vijay Mallya and Nirav Modi, who have been declared FEOs since 2018.
The court's decision now empowers the ED to initiate the confiscation of Naseem's assets under the provisions of the FEO Act.
Denne historien er fra May 02, 2025-utgaven av Hindustan Times Lucknow.
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