Fraud Empire Exposed: Rashid Naseem’s India Network Busted as STF Cracks Multi-Crore Scam

Lucknow : In a major breakthrough, the Special Task Force (STF) has arrested key members of an alleged multi-crore fraud network linked to absconding real estate scam mastermind Rashid Naseem, who is accused of cheating thousands of investors across India and living a luxurious life in Dubai using public money.

The arrests have once again brought attention to one of India’s biggest alleged MLM and real estate fraud syndicates, involving companies such as Shine City, Shine Quine, Shine Foods & Beverages, and Sky Ocean.

According to officials, Rashid Naseem built his empire by luring people into investing in land deals, real estate schemes, and high-return plans through multi-level marketing (MLM). Investors were promised huge profits, daily returns, and commissions for bringing in more members.

However, investigators say it was nothing more than a large-scale financial trap.

The STF arrested Brijmohan Kumar Singh, who was allegedly working as Rashid Naseem’s India business head, along with his close associates — AnkIt Kumar, Managing Director of Sky Ocean, Mohammad Faizan Ansari, a team leader, and Subhash Tukkaram Devkate.

ADG STF Amitabh Yash said that intelligence inputs revealed Brijmohan and AnkIt were operating from Lucknow. Acting on this information, STF teams arrested the accused from Vibhuti Khand in Lucknow and Gauriganj in Amethi district.

During questioning, Brijmohan revealed shocking details about how the fraud network operated.

He said that in 2017, he joined Shine City as a team leader through a man named Manoj Kumar. His role was to convince people to invest in the company’s schemes by offering attractive returns and commission-based benefits.

Between 2017 and May 2019, Brijmohan and his team allegedly collected nearly ₹75 crore from investors across different schemes. In return, he earned a 6% commission.

The business grew rapidly, attracting thousands of people who believed they were investing in secure real estate opportunities.

But in May 2019, everything changed.

Rashid Naseem and several other company heads were arrested by Nepal Police, causing panic among investors. Soon after, payouts stopped, trust collapsed, and investors began filing complaints.

Within a short time, around 2,500 cases were reportedly registered against Rashid Naseem, his companies, and team leaders across India.

However, instead of ending the operation, the alleged mastermind simply changed his strategy.

After securing release from a Nepal jail, Rashid Naseem reportedly shifted his base to Dubai, where he began rebuilding the scam network from outside India.

According to the investigation, in December 2020, Rashid instructed his associates to launch a new digital platform called SKYOCEN.LIVE. The website and software were reportedly developed by IT experts Sunil Kumar and Mayur.

This new scheme was designed to attract investors with even bigger promises.

People were told they would earn 1% to 2% daily returns on their investment, while team leaders were offered 10% direct commission and another 10% binary commission for bringing in new investors.

The promotions were carried out aggressively through Zoom meetings, direct seminars, and city-wise gatherings.

Investigators say this helped the scam regain momentum.

To keep team leaders motivated and attract bigger investments, Rashid allegedly organized luxury trips to Dubai.

Brijmohan told police that in March 2021, around 80 top-performing team leaders were invited to Dubai for a special business meeting.

The group stayed in expensive hotels like Hyatt Regency and Oberoi in downtown Dubai, where lavish parties and business meetings were held for three days.

Police believe this money came directly from investors who had put their savings into the company.

One of the most alarming revelations was the launch of the company’s own cryptocurrency called SOT (Sky Ocean Token).

According to Brijmohan, the crypto token was introduced as another way to collect money from investors and expand the scam.

He admitted that after deducting company expenses and commissions for agents, the remaining money was divided among Rashid Naseem, Brijmohan, and AnkIt Kumar.

Investigators say the gang followed a planned pattern.

At first, they would return money to some investors to build trust and attract more people. Once enough funds were collected, the company would shut down, disappear, and later relaunch under a new name and website.

This cycle reportedly continued for years.

Brijmohan also revealed that while Rashid Naseem remains hidden in Dubai, many team leaders were hiding in Goa and traveling across major Indian cities like Mumbai, Surat, Delhi, Kolkata, Bengaluru, and Lucknow to promote fresh schemes.

The STF believes this organized fraud network may have cheated people of thousands of crores over the years.

Officials are now collecting information about all companies linked to the Shine Group and its wider network to identify more victims and uncover additional assets.

The investigation is expected to widen further, with more arrests likely in the coming days.

For many victims, this crackdown offers hope of justice. But for thousands who invested their life savings in the promise of quick returns, the damage may already be irreversible.

The case stands as another warning about the dangers of unregulated investment schemes, fake real estate promises, and MLM traps that often target ordinary people looking for financial security.

News source: Information for this article was gathered from a variety of reliable news outlets.