Lucknow: The Directorate of Enforcement (ED) arrested main agent of Shine City group of companies Abhishek Kumar Singh from Sitapur late on Thursday night under the Prevention of Money Laundering Act (PMLA) 2002 in connection with an ongoing investigation initiated against the firm. Singh was remanded in ED custody for six days by a special court in Lucknow.
The ED initiated investigation on the basis of approximately 250 FIRs registered by UP police against director of the Shine City group of companies Rasheed Naseem, accused of usurping around Rs 1,000 crore of the public in the name of investment. In 2021, the ED had invoked PMLA against Shine City and its directors, including Rasheed, Asif Nafees and Javed Iqbal.
Abhishek was the main agent of Rasheed and he was actively assisting Rasheed in laundering the crime proceeds. He was in constant touch with Rasheed.
The investigation revealed that the proceeds of crime were transferred to various companies and individuals. This is the second arrest in this case. The ED had arrested one Shashi Bala on November 25 and she was granted ED custody till December 5. The ED investigation till now has resulted in attachment of properties worth Rs 128 crore and many incriminating documents were confiscated during search operations. The main accused Rasheed is absconding.
