ED raids 23 locations in connection with fraudulent sale of Shine City properties

The raids were conducted in multipled states following inputs that the agents of Shine City whose MD Rashid Naseem is absconding in a multi thousand crore fraud case, were attempting to sell the seized properties.

Lucknow: The Enforcement Directorate (ED) on Friday raided multiple locations in connection with the fraudulent sale of properties belonging to Shine City whose owner Rashid Naseem and his henchmen have fled to Dubai after defrauding about Rs 60 thousand crores from UP investors, sources said. On Friday, the agency raided 23 locations of the agents who were fraudulently selling the seized properties of Shine City.

The raids, which started on Friday evening, continued till late night in Lucknow, Delhi, Mumbai, Varanasi, Azamgarh, Prayagraj and Hardoi. Sources said that the raids were conducted after the ED had received a complaint that 19 acres of land seized by ED in Mauza Purvaveer village of Narwal tehsil of Kanpur city is being sold by the agent of Shine City.

Following the inputs, the agency officials started investigation and started searching for the agents of the company. Investigation had revealed that besides the Shine City land in Kanpur, the company had also made a deal on seized lands in seven cities of UP. On the basis of this investigation, the agency raided Gomtinagar, Gomtinagar Extension and Ashiana in Lucknow and conducted searches there.

Besides, the house of a representative of a block chief in Azamgarh and his premises in Mumbai were also raided by the ED. Complaints of fraud have been filed in many states including UP against more than 50 employees of the company, including MD Rashid Naseem and his brother Asif Naseem. More than 4,000 FIRs have been registered in many states including UP, Delhi, Bihar, West Bengal and Assam.

An official said that as many as 240 FIRs have been registered only in Gomti Nagar police station of Lucknow. ED has so far seized land worth Rs 128.54 crore of Shine City. Rashid Naseem, along with brother Asif are accused of having looted the hard-earned money of more than one million people. According to the investigating agencies, Shine City has committed a scam of more than Rs 60,000 crore.

Rashid Naseem has fled to Dubai while brother Asif is lodged in Lucknow jail. The EOW wing of UP Police and ED are investigating the case. So far, more than 60 officers and employees of Shine City have been arrested in the case.