New Delhi, May 1 -- A Special Court (PMLA) in Lucknow declared Rashid Naseem, the main promoter of Shine City Group, as a Fugitive Economic Offender (FEO) on Wednesday, according to an Enforcement Directorate (ED) statement.

The ED had sought the declaration of Rashid Naseem as a FEO and filed an application in a special court for Prevention of Money Laundering Act in Lucknow, Uttar Pradesh. The ED had also sought confiscation of his properties under the Fugitive Economic Offenders Act, 2018.

In a chargesheet filed in October last year, the ED said that they had initiated an investigation based on approximately 554 FIRs registered by the Uttar Pradesh police against Naseem and Shine City Group of Companies, an HT report said.

The FIRs ...