REGULATORY · INDIA
UAE arrest tied to India ED money-laundering case (Shine City Group)
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UAE authorities arrested Rashid Naseem in Dubai on the Enforcement Directorate’s request in connection with a UP-linked PMLA money-laundering probe into Shine City Group.
Why it matters
Rashid Naseem, promoter of the Lucknow-based Shine City Group, was arrested in the UAE after Indian authorities (ED) sought action, according to officials (Feb. 27, 2026). Naseem had already been declared a fugitive economic offender by a Special PMLA court in Lucknow in April 2025 under the Fugitive Economic Offenders Act. The ED probe stems from 554 cases registered by Uttar Pradesh Police and relates to alleged money laundering linked to investment/real-estate schemes and multi-level marketing. With the arrest in Dubai, the matter shifts from locating a fugitive to managing cross-border legal process and custody transfer decisions.
Implications
- • Cross-border enforcement escalates from fugitive status to custody in the UAE.
- • Extradition/transfer proceedings become the binding next procedural constraint.
- • ED’s case posture strengthens with the accused no longer absconding abroad.
- • Shine City-linked parties face higher near-term legal and asset scrutiny risk.
Who is affected
- • Rashid Naseem (declared fugitive economic offender; Shine City Group promoter)
- • Shine City Group of companies and associated directors/agents
- • Enforcement Directorate and Special PMLA court (Lucknow)
- • Investors/claimants tied to alleged Shine City schemes and UP Police FIRs
Source
Topics
Law & Public Safety Regulatory Actions Compliance Criminal Justice