Lucknow: The Directorate of Enforcement (ED) arrested Udhav Singh alias Sonu Singh under provisions of the Prevention of Money Laundering Act (PMLA), 2002 in connection with investigation into the Shine City scam.
Ten-day custody of the accused was given to the ED by a local court. The ED had initiated investigation in the case on the basis of 250 FIRs lodged by the UP police against Rasheed Naseem, director of the Shine City group of companies, accused of usurping approximately Rs. 1,000 crore of the public on the promise of hefty returns.
The ED investigation revealed that Udhav had received huge money in the name of bogus commission. He had also received advance for land purchase from the Shine City group of companies. The money was, however, used in acquiring flats and commercial spaces in Mumbai, Gujarat and Uttar Pradesh.
The ED investigation till now has resulted in attachment of properties worth Rs 128 crore. Besides, incriminating documents and electronic evidence were recovered during a search operation conducted on November 24 on 18 premises linked to the accused and the mastermind Rasheed Naseem, who is absconding and is suspected to have fled to UAE.
This is the fourth arrest in this case. Earlier, the ED had arrested Shashi Bala, Abhishek Singh and Durga Prasad.
