A number of teams at the second tier are said to have demanded an investigation into Wolves' relationship with super-agent Jorge Mendes, while Leeds United chairman Andrea Radrizzani and Aston Villa chief executive Keith Wyness have used social media to take aim at the West Midlands outfit.
The EFL will hold discussions with Wolves in the near future, but Shi has dismissed the suggestions, claiming that the actions of some of the club's rivals are "laughable".
Shi told the Express & Star: "I was very surprised to see some Twitter of the chairman of Leeds because I know him, I also had several lunches with him, together with Jorge. So it's very strange. In person I talk to him and he's nice, so I guess maybe he has the pressure and I understand that. I was also surprised to see the Twitter of Keith. On Saturday I met him and said 'what happened?'.
"I think frankly it's laughable, because they know nothing about us. I know everything about us and our club and what we're doing. I know everything about the rules of the league and the FA and the EFL knows our dealings, every transfer document, agent fees, all information is recorded in their library.
"Our opponents don't know much about us and it's not a fair dispute. It's easy for us to answer all the questions."
Wolves currently sit three points clear at the top of the standings.