LUCKNOW: Lucknow based company which is alleged to have duped numerous investors to the tune of about Rs 800-1,000 crore. Asif Naseem, Amitabh Kumar Srivastava and Meera Srivastava were taken into custody in connection with the ongoing investigation in the Shine City fraud case, it said.
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.
The agency had earlier arrested four persons in the case.
The money laundering case was filed after the ED took cognisance of about 250 FIRs of the Uttar Pradesh Police against Rasheed Naseem and Shine City group of companies where it was alleged they had collected about Rs 800-1,000 crore from the public in the name of investment and promised them huge returns and finally cheated them.
The three persons arrested on Tuesday are the “main accused” and directors of Shine City group of companies who have lured the investors, collected money and cheated them, the agency alleged.
The proceeds of crime were “transferred” to various other companies controlled by them and individuals close to them, it claimed.
Ashif Naseem, the ED said, is a director in 20 companies of the Shine City group which received the “proceeds of crime” and this money was used to purchase land.
Amitabh Kumar Srivastava and Meera Srivastava collected Rs 22 crore in the bank account of a company called Kingston Buildcon Pvt. Ltd and used the proceeds to purchase land and other personal assets, the agency said.
Assets worth Rs 128 crore have been attached by the agency in this case till now.
