Shine City properties worth Rs 31 crore have been attached by the Enforcement Directorate.

LUCKNOW: On Sunday, the Enforcement Directorate’s Lucknow unit attached real estate company Shine City’s immovable properties worth Rs 31.24 crore in Sultanpur, Jhansi, Pratapgarh, Pindra (Varanasi), Bara (Allahabad), and Bakshi Ka Talab (Lucknow).

The ED has attached properties worth Rs 50 crore since the filing of a PMLA case against the owners of Shine City in January 2021. Officials report that 226 FIRs have been filed against the real estate agency across the state.

In January 2021, the agency filed a case under the Anti-Money Laundering Act, 2002, against Shine City Infra Project Pvt. ltd. for stealing crores of rupees from investors across the state. According to the ED, the PMLA case was filed against the company and its directors Rasheed Naseem, Asif Nafees, Javed Iqbal, and others.

According to ED officials, the real estate firm and its owners were charged with defrauding the public by luring them to invest in different lucrative schemes floated by the firm.

“The quantum of illegal proceeds at this stage of study is around Rs 80.78 crore, as per various FIRs and complaints obtained on record,” an officer said. According to ED officials, the stolen money, in the form of currency, were collected from the general public through illegal business lucrative schemes, in which the company’s agents sold the schemes to the general public on a commission basis.

“Shine City companies purchased lands from farmers and sold them in smaller chunks,” an ED official explained.