Shine City Scam: STF Arrests India Business Head Brijmohan Singh in ₹75 Crore Investment Fraud

Shine City Scam: The Special Task Force (STF) arrested Brijmohan Singh, India Business Head of Shine City Company, along with four associates, for allegedly defrauding investors of ₹75 crore under the guise of real estate and investment schemes. The accused were apprehended in Lucknow’s Vibhuti Khand area while en route to a meeting with team leaders.

Shine City Scam: Key Accused & Modus Operandi:

• Brijmohan Singh, a Ranchi native, operated under Shine City’s MD Rashid Naseem, who is currently absconding in Dubai.

• The duo launched Sky Ocean, a fraudulent entity offering daily 0.5% returns and 20% commissions to recruiters.

• A cryptocurrency, Sky Ocean Token (SOT), was introduced during a Dubai meeting in March 2021 to lure investors.

Also Read: SEBI Refers Investor Complaints Against QNET to Karnataka Govt Over Alleged MLM Fraud

Shine City Scam Timeline:

• 2017–2019: Brijmohan joined Shine City as a team leader, collecting ₹75 crore via fake investment plans, earning 6% commission.

• May 2019: Rashid and associates were arrested in Nepal, prompting investor withdrawals and legal cases. Rashid fled to Dubai post-release.

• December 2020: Brijmohan, under Rashid’s direction, developed Sky Ocean’s website and software to restart the scam.

STF Investigation:

• Funds were diverted after deducting operational costs and commissions, with profits split between Rashid and Brijmohan.

• The scheme collapsed as investor inflows surged, leading to Sky Ocean’s abrupt shutdown and plans to launch a new entity.

• The accused hid in Goa but were tracked to Lucknow during a promotional meeting.

Official Statement:

STF ADG Amitabh Yash confirmed ongoing efforts to trace other team leaders. “Brijmohan exploited trust through lucrative returns, while Rashid used Zoom meetings to legitimize the fraud,” he stated.

Current Status:

The STF is probing interstate connections, with meetings held in Mumbai, Surat, Delhi, and Bengaluru. No chargesheets have been filed yet.