ED Attaches Rs 264 Crore Assets From Shine City Group in Major Real Estate Fraud Case

Dec 04, 2025 08:22 pm CST

The Enforcement Directorate has declared Shine City Group founder Rashid Naseem a Fugitive Economic Offender, confiscating properties worth Rs 127.98 crore in a major real estate scam. After investigating 550+ FIRs, authorities have attached assets worth Rs 264.10 crore and are processing claims from over 6,500 victims who were defrauded through fake investment schemes.