Dehradun, May 13 (IANS) The Central Bureau of Investigation (CBI) has arrested five accused, including an alleged kingpin, in connection with the multi-crore LUCC chit fund scam in Uttarakhand that allegedly duped more than one lakh investors.
The arrested accused have been identified as Sushil Gokhroo, Rajendra Singh Bisht, Tarun Kumar Mourya, Gaurav Rohilla and Mamta Bhandari. They were apprehended from different locations across the country, the agency said on Wednesday.
The case pertains to the alleged fraud committed by M/s Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC), which is accused of running unregulated deposit schemes and cheating investors on a massive scale.
According to the CBI, the Uttarakhand High Court’s Nainital Bench had transferred all FIRs related to the LUCC chit fund scam to the central agency in 2025. Acting on the court’s directions, the CBI registered a case on November 26, 2025, under various sections of the IPC, Bharatiya Nyaya Sanhita (BNS), the Uttarakhand Protection of Interests of Depositors Act and the Banning of Unregulated Deposit Schemes (BUDS) Act.
The investigation has revealed that more than one lakh investors were allegedly lured into depositing money in various schemes floated by LUCC. The total deposits collected are estimated to be around Rs 800 crore.
While some investors reportedly received partial repayments, the agency said the fraud amount is estimated to be over Rs 400 crore.
The CBI said a special investigation team has been working on the case on a day-to-day basis using technical surveillance and source-based information to trace the accused persons.
The agency identified Sameer Agrawal as the main accused in the case. He and his wife, Saniya Agrawal, are currently absconding and are said to be out of the country. The CBI said notices and circulars have been issued against them.
The investigation has further revealed that several immovable properties were allegedly acquired by the accused using proceeds of crime. Details of these assets have been shared with the competent authority -- the Secretary, Finance, Government of Uttarakhand -- with a request to freeze the properties and initiate proceedings for distribution among victims under the provisions of the BUDS Act, 2019.
The arrested accused are being produced before the competent court. Further investigation is underway.
--IANS
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