LUCKNOW: The economic offences wing (EOW) on Monday arrested a woman accused in the Shine City real estate scam, which allegedly involved cheating investors of crores of rupees across several districts of UP.
An EOW press note said on Monday that the arrested accused was identified as Preeti Singh, a resident of Jankipuram. She worked as human resources officer at Shine City‘s Lucknow office in Vibhuti Khand, Gomtinagar. She also functioned as an authorised signatory for buyers’ agreements on behalf of Shine City Group.
Shine City Infra Project Pvt Ltd allegedly lured investors by offering low-cost residential plots and other attractive investment schemes in multiple districts of Uttar Pradesh. Investors were persuaded to invest large sums of money with the promise of land allotment and high returns. However, the company allegedly failed to hand over plots or refund the invested amounts.
With the arrest of Preeti Singh, the investigation has gained further momentum.
Investigators said that Preeti, in her official capacity, used to sign buyers’ registry and agreement documents, playing a key role in executing fraudulent transactions and legitimising the company’s dealings with investors.
