The Economic Offences Wing (EOW) on Monday arrested a former employee of Shine City Infra Project Private Limited in connection with the high-profile real estate scam, according to an official statement. This marks the 10th arrest in the case so far.
The accused, Preeti Singh, a resident of Sector-G, Jankipuram, Lucknow, previously worked as a human resource officer at Shine City’s Lucknow office located at R Square in Vibhuti Khand, Gomti Nagar. She also functioned as an authorised signatory, signing buyers’ agreements on behalf of the Shine City Group.
Investigations revealed that the company allegedly duped investors by offering low-cost residential plots and lucrative investment schemes across several districts of Uttar Pradesh. Investors were persuaded to invest substantial amounts with assurances of land allotment and high returns. However, the firm allegedly neither handed over the promised plots nor refunded the money.
After collecting funds, the company’s directors and key officials reportedly shut down offices and went absconding, leaving thousands of investors stranded.
A case was subsequently registered at Gomti Nagar police station, Lucknow, under multiple sections of the Indian Penal Code, including 409 (criminal breach of trust), 420 (cheating), 467, 468, 471 (forgery-related offences) and 120-B (criminal conspiracy).
So far, the EOW has identified the involvement of 11 accused in the scam and has filed charge sheets against nine of them. Investigators stated that Preeti Singh played a crucial role in executing fraudulent transactions by signing registry and agreement documents, thereby helping legitimise the company’s dealings with investors.
Further investigation into the scam is ongoing.
