New Delhi [India], December 4 (ANI): In one of the first confiscations through the Fugitive Economic Offenders Act mechanism in Uttar Pradesh, the Enforcement Directorate ( ED ) has received approval to confiscate movable and immovable assets worth Rs 127 crore belonging to fugitive Rashid Naseem and the Shine City Group of Companies.

The confiscation move comes after the agency designated Naseem as a Fugitive Economic Offender (FEO) for allegedly orchestrating large-scale financial fraud and cheating thousands of investors through Shine City's real estate and investment schemes. With Naseem absconding abroad to evade legal proceedings, the ED invoked FEOA provisions, enabling attachment and now full confiscation of his identified assets.

A special court in Uttar Pradesh's Lucknow is

See Full Page