Rashid Naseem, a fugitive financial perpetrator sought after in reference to an alleged large-scale funding fraud case in Uttar Pradesh, has been arrested within the UAE, officers stated on Friday.
Naseem, promoter of the Lucknow-based Shine Town Workforce, have been declared a fugitive beneath the Fugitive Financial Offenders Act (FEOA) through a Particular PMLA courtroom in Lucknow in April closing yr. The motion adopted court cases initiated through the Enforcement Directorate (ED) beneath the Prevention of Cash Laundering Act (PMLA).
The cash laundering probe stemmed from 554 FIRs registered through the Uttar Pradesh Police towards Naseem and his actual property company, Shine Town Workforce. Investigators alleged that the corporate amassed between Rs 800 crore and Rs 1,000 crore from buyers thru fraudulent actual property schemes and multi-level advertising and marketing plans promising top returns.
Officers stated UAE government apprehended Naseem in Dubai. In January 2026, the ED had submitted an in depth file to UAE government outlining the PMLA and FEOA court cases towards him in India.
In an previous observation, the company had accused Naseem of intentionally evading investigation and ignoring the summons issued to him. He’s believed to have fled India by way of Nepal sooner than settling in Dubai.
In December 2025, the Particular PMLA courtroom in Lucknow ordered the confiscation of belongings price Rs 127.98 crore belonging to Naseem as a part of court cases beneath the FEOA.
Additional felony processes are anticipated to observe referring to his extradition to India.
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