LUCKNOW: The Economic Offences Wing of UP Police has written to the ministry of home affairs seeking extradition of builder Rasheed Naseem from Dubai.
Naseem, the owner of Shine City – a real estate firm, had duped investors of an estimated over Rs 350 crore by promising them flats, plots and houses which never came into being. A total of 290 FIRs are pending against the company and its promoters across the state.
ED, probing the funding of the firm and its Lucknow unit, on Sunday attached immovable assets of Shine City in Lucknow, Mirzapur and Manda worth Rs 56 crore.
Till now, ED has attached properties worth Rs 107 crore of Shine City since the registration of a PMLA case against it in January 2021.
Director general, EOW, RK Vishwakarma, told TOI that a letter has been sent to the MHA via the state home department for extradition of Naseem from Dubai. “Our intelligence unit was tipped off about his presence in Dubai,” he said. DG Vishwakarma said that Naseem was declared an absconder on October 30, 2021 and later notices were pasted at his residences/establishments and at prominent places of the state in Lucknow, Prayagraj, Kanpur, Mirzapur, Varanasi.Another senior police officer said that Asif, a resident of Prayagraj, formed this real estate firm along with his brother Naseem in 2013 and started the business from Lucknow.
“The duo used several schemes to lure investors in real estate and used that money to expand his empire. The company took money from people in the name of giving plots at cheaper prices and promised to give possession of land after a certain time,” said the officer. “In most cases when the investor used to approach the company for possession after maturity, they used to force the investor to invest money in some other scheme. After some time, people began realising his fraud and started lodging police cases against him. According to rough estimates, 500 FIRs against the firm have been lodged in other states including Delhi, Rajasthan, Madhya Pradesh, West Bengal, Bihar” the officer added.
On the other hand, ED said that a PMLA case was registered against the company, its directors, Rasheed Naseem, Asif Nafees, Javed Iqbal and others. The ED officials said that the real estate firm and its owners were booked for cheating the public at large by luring them to invest in various lucrative schemes floated by the company. The ED stated that Shine City had acquired/sold land in other locations in UP, Bihar and West Bengal.
“The collection of the data/sale deeds from the respective property registration authorities is under progress to ascertain the details of land in different districts of UP,” ED said.





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