Shine City director, brother to be extradited from Dubai

PRAYAGRAJ: The Economic Offences Wing (EOW), which is probing the multi-crore Shine City fruad case, has sent its report to the central bureau of investigation (CBI) with a request to extradite the real estate and multi-level marketing company’s director Rashid Naseem and his brother Asif who are hiding in Dubai.

Rashid Naseem is accused of duping several people of crores of rupees on the pretext of investments in his company. While many of the company’s officials have been arrested in different raids conducted recently, Rashid Naseem his brother and some other accused are still out of police net.

Uttar Pradesh police have declared a reward of Rs 5 lakh on the arrest of Rashid and his brother after the Allahabad high court pulled up state police for failing to arrest them. “Action against Rashid Naseem, his brother Asif and other officials of Shine City has gained pace. CBI was requested for his extradition following which further formalities are being completed,” said a senior EOW official requesting anonymity.

Residents of Kareli area of Prayagraj, Rashid Naseem and Asif have registered Shine City company and established its branch offices across the state and even outside. The company invited investments on the pretext of property, jewellery, bit coin etc from hundreds of people across the country but did not give them returns and duped them of crores of rupees.

At least 284 cases of fraud were lodged against Shine City and its officials across the state. EOW officials with help of local police arrested many officials and agents of Shine City accused of fraud and sent them to jail.

Investigations revealed that Rashid and his close kin are hiding in Dubai. He also held a meeting with other officials of Shine City through videoconferencing around a month back.