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Shine City case: PMLA court takes cognizance of chargesheet in 1000 cr fraud

By, Lucknow
Oct 09, 2024 08:14 AM IST

The quantum of total attachment made so far in this case stands at Rs.189.39 crore (approx.) Further ED investigation is under progress.

The Special Court (PMLA), Lucknow on Saturday (October 5) took cognizance of a chargesheet in a money laundering case of Shine City Fraud filed by Enforcement Directorate (ED), Lucknow Zonal Office on September 20, confirmed ED officials here on Tuesday.

 (Pic for representation)
(Pic for representation)

In a press brief shared with the media, the ED officials stated that the agency has initiated investigation based on approximately 554 FIRs registered by Uttar Pradesh Police against Rashid Naseem and Shine City Group of Companies, wherein they had collected huge amount of money, Rs1000 Crore (approx.), from the public in the name of investment and promised huge returns on them and finally cheated them.

The ED arrested Himanshu Kumar, a close associate of Rashid Naseem, on July 22. The ED investigation revealed that Himanshu Kumar had incorporated and controlled several companies such as Shraddha Saburi infra-Developers, Scapers Realcon Pvt Ltd, Bhavya Broadcasting Pvt Ltd, Realcon Links etc. The money collected from the customers was layered and siphoned off to the entities owned, controlled and operated by Himanshu Kumar.

Furthermore, a money trail was identified, and ED had provisionally attached properties worth 29.11 crore in the form of residential real estate project, office space and agricultural land belonging to Himanshu Kumar and his companies on September 13.

The ED had filed the chargesheet against Himanshu Kumar after establishing his role in the offence of money laundering. Till now, five chargesheets have been filed and a total of eight individuals, 13 companies and nine partnership firms were accused in the case. The court has taken cognizance of all chargesheets filed so far.

The quantum of total attachment made so far in this case stands at Rs.189.39 crore (approx.) Further ED investigation is under progress.

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