Shine City Group Scam: Inside the ₹100Cr Fraud That Duped Thousands

The Uttar Pradesh Special Task Force (STF) has arrested Brijmohan Kumar Singh, India Business Head of the notorious Shine City Group, along with four associates, in connection with a multi-crore investment scam. The group allegedly defrauded thousands by promising "high returns" through fake MLM schemes, crypto tokens, and shell companies. Over ₹100 crore was siphoned off, with more than 2,500 cases registered nationwide.

The Rise and Fall of a Fraud Empire

The Shine City Group, led by fugitive CMD Rashid Naseem, operated under multiple aliases like Shine Quoin, Shine Foods, and Sky Ocean. Investors were lured with promises of doubling their money through "low-risk" schemes. Brijmohan Singh, a close aide of Naseem, admitted to receiving 6% commissions for funneling ₹75 crore into these scams between 2017 and 2019.

Dubai Meetings, Crypto, and Lavish Lures

The scam’s sophistication extended to Dubai, where 80 team leaders were flown for high-profile meetings at luxury hotels like Hyatt Regency. Here, the group launched Sky Ocean Token (SOT), a cryptocurrency, to further legitimize their operations. Naseem, now hiding in Dubai, used Zoom calls to pitch fake IT ventures offering "0.5% daily returns."

Nationwide Crackdown and Bounties

With 300+ cases in Lucknow alone, the Enforcement Directorate (ED) and Economic Offenses Wing (EOW) are probing the group’s cross-border money trails. Naseem and his brother Asif, declared absconders, have ₹50,000 bounties each. STF recovered 22 ATM cards, passports, and chequebooks during the arrests, exposing a vast network of shell accounts.

Lessons for Investors

This case underscores the risks of "get-rich-quick" schemes. Authorities urge vigilance against MLM traps and unregulated crypto offerings. For more on financial fraud trends, read our guide to spotting scams.

The Enforcement Directorate’s guidelines on safe investments highlight red flags like unrealistic returns.

Conclusion

The Shine City Group scam reveals a web of greed and deception, exploiting trust for billions. As investigations deepen, this arrest marks a critical step in dismantling organized financial fraud. Investors must prioritize due diligence—because if it sounds too good to be true, it likely is.