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Lucknow authorities have recently arrested Preeti Singh, the HR officer and authorised signatory of Shine City Infra Project Pvt Ltd, in connection with a multi-crore real estate scam. The company allegedly lured investors across several districts of Uttar Pradesh with promises of low-cost residential plots and high returns, but failed to deliver land or refunds. Singh is accused of signing buyers agreements that helped legitimise the transactions. The arrest comes as part of ongoing investigations, following earlier complaints and enforcement actions, including asset attachments and multiple prosecutions against Shine City promoters.
The Economic Offences Wing (EOW) in Lucknow recently arrested Preeti Singh, who served as the human resources officer at Shine City's Gomtinagar office and also acted as an authorised signatory for the company. Authorities say Singh played a central role in executing and legitimising fraudulent agreements with investors, signing buyers agreements that enabled the company to collect large sums of money under false pretences. Advertisement
Shine City Infra Project Pvt Ltd allegedly attracted investors by promoting low-cost residential plots and other high-return investment schemes across multiple districts in Uttar Pradesh. Investors were persuaded to invest significant amounts with the promise of land allotment and timely returns. However, most investors neither received the plots nor had their money refunded, prompting hundreds of complaints to local authorities.
The arrest of Singh adds momentum to an investigation that has been ongoing for several years. Earlier, law enforcement agencies had initiated action against Shine City promoters and associates, including the attachment of immovable and movable assets worth hundreds of crores of INR under the Prevention of Money Laundering Act (PMLA). Investigators found that funds collected from investors were allegedly routed through multiple shell companies and diverted to promoters and associates instead of being used for project development.
Authorities emphasised that Singh's official role gave her direct authority over key documentation, including buyer registries and agreements, which were central to executing the fraudulent transactions. Investigators continue to identify other company officials involved in the scam as they aim to ensure accountability and recover the funds for defrauded investors.
This arrest follows multiple legal steps taken by authorities against Shine City, including filing prosecution complaints and monitoring the movement of assets linked to the scam. Officials said continued investigations will focus on uncovering the network behind the fraudulent schemes and preventing similar incidents in the future.
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