The Lucknow unit of Enforcement Directorate on Sunday attached immovable properties of real estate firm Shine City in Sultanpur, Jhansi, Pratapgarh, Pindra (Varanasi), Bara (Allahabad) and Bakshi Ka Talab (Lucknow) valued at Rs 31.24 crore.
The ED has attached Shine City’s properties worth Rs 50 crore since the registration of a PMLA case against its owners in January 2021. According to officials, as many as 226 FIRs have been registered against the real estate firm across the state.
The agency lodged a case of the Prevention of Money Laundering Act, 2002, against Shine City Infra Project Private Limited for siphoning crores of rupees belonging to the investors across the state in January 2021. The ED said that the PMLA case was registered against the company, its directors Rasheed Naseem, Asif Nafees, Javed Iqbal and others.
The ED officials said that the real estate firm and its owners were booked for cheating the public at large by luring them to invest in various lucrative schemes floated by the company.
“The quantum of proceeds of crime at this stage of investigation is about Rs 80.78 crore according to various FIRs and complaints received on record,” an officer said. The ED officials said that the proceeds of crime, in the form of money, were collected from the public at large through various illegal lucrative schemes, wherein the agents of the company sold the schemes to the public at large on commission basis.
“Shine City companies had bought lands from farmers and sold the same in smaller chunks,” the ED official said.
