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ED investigation revealed that there were many agents who have worked for and have still been working for Shine City to lure the investors thereby helping Rasheed Naseem and Shine City in generating the proceeds of crime.
The Lucknow zone unit of the Enforcement Directorate has filed a prosecution complaint in connection with the alleged money laundering case of Shine City Fraud
The three were produced before a special Prevention of Money Laundering Act (PMLA) court in Lucknow that sent them to ED custody till April 16, the federal agency said in a statement
Get latest articles and stories on India at LatestLY. The Enforcement Directorate (ED) on Tuesday arrested three persons, including a woman, in connection with an ongoing investigation in a money laundering case of Shine City fraud estimated at nearly Rs 1,000 crore. India News | ED Arrests Three from UP in Money Laundering Case of Shine City Fraud Estimated Rs 1000 Crore.
The three were subsequently produced before the special court for PMLA cases, Lucknow, and the Court has granted their custody remand for seven days till April 16