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CBI filed charge sheet against 18 accused/entity in LUCC Chitfund Scam of Uttarakhand Date: 10.07.2026 Central Bureau of Investigation (CBI) today i.e. on 10.07.2026 arrested the Honorable Inspector of BUDS Act, Dehradun in the case related to Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC) Chitfund Scam of Uttarakhand. Chargesheet has been filed against 18 accused/organization in the special court. This charge sheet names Sameer Agarwal, Shadab Hussain, Uttam Kumar Singh Rajput, Sania Agarwal (wife of Sameer Agarwal), Maya Singh Rajput (wife of Uttam Kumar Singh Rajput), Jitendra Singh Niranjan, Dinesh Singh, Girish Chand Singh Bisht, Urmila Bisht (wife of Shri Jagmohan Bisht), Jagmohan Bisht, Mamta Bhandari, Tarun Kumar Maurya, Gaurav alias Gaurav Rohilla, Sushil Gokhru, Kishanlal Udaylal Jain, Pankaj A case has been filed against Kushal Singh Jain, Rajendra Singh Bisht and Loni Urban Multi State Credit and Thrift Co-operative Society under various sections of the Indian Penal Code, Indian Judicial Code, Uttarakhand Protection of Depositors' Interest Act and Unregulated Deposit Schemes Prohibition Act.

It may be recalled that the Honorable Uttarakhand High Court, Nainital Bench had passed orders to transfer all the FIRs related to LUCC chit fund scam to CBI in the year 2025. In compliance with the said orders, CBI had registered a case on 26.11.2025 against various office bearers and others of LUCC under various sections of IPC, BNS, Uttarakhand Protection of Depositors Interest Act and BUDS Act. By registering this case, CBI had taken over the investigation and further investigation of all the 18 local police FIRs registered in various police stations of Uttarakhand. Investigation revealed that LUCC was registered as a Multi-State Co-operative Society with the Central Registrar of Co-operative Societies in the year 2012 by Wajid Khan. Key accused Sameer Aggarwal took over the management of LUCC in 2016 and formed a new board of directors.

After Sameer Aggarwal took charge of LUCC, various unregulated deposit schemes were run through its more than 50 branches located in Uttarakhand. Although the NOC for the functioning of LUCC in Uttarakhand was issued by the Registrar of Societies of Uttarakhand in the year 2017, Sameer Aggarwal had started operating it illegally in the year 2016 itself. Since LUCC had no real business and no real income/profit, maturity payments of depositors' deposits were being made out of fresh deposits received from new depositors. Thus, it was found that LUCC was running a Ponzi scheme to cheat the general public of Uttarakhand. The investigation revealed that the public was victimized on an unprecedented scale in the State of Uttarakhand, wherein a large number of investors (approximately more than 1 lakh) were lured to invest in various unregulated deposit schemes of LUCC. The total investment/deposits made by these depositors is approximately ₹800 crore. Partial payments were made by LUCC to some depositors, but the total amount of the fraud is more than ₹400 crore.

Investigation revealed that the main accused, Sameer Aggarwal, resident of Mumbai, Maharashtra, was the mastermind behind the operations of LUCC and controlled its management and decision making process. He operated unregulated deposit schemes through LUCC, which collected approximately ₹800 crore from depositors in Uttarakhand. He opened bank accounts of 10 shell (fake) firms by conspiring with Kishanlal Udaylal Jain and Pankaj Kushal Singh Jain for embezzlement and misappropriation of depositors' funds of Uttarakhand collected by LUCC. Investigation has also revealed that he and his wife Mrs. Sania Aggarwal have absconded abroad. The CBI has issued notices and circulars against him so that he can be brought back to face the legal process.

Investigation revealed that Shadab Hussain, Uttam Kumar Singh Rajput and Dinesh Singh were important officials of LUCC and chargesheet has also been filed against them by CBI. Similarly, chest managers of LUCC namely Tarun Kumar Maurya, Gaurav alias Gaurav Rohilla and Mamta Bhandari, who diverted depositors' money collected by various branches to various places in the form of cash and thus evaded banking transactions, have also been chargesheeted. In the present chargesheet, several other accused, who were officials of LUCC and were involved in the conspiracy, have also been chargesheeted. The investigation found that Sushil Kumar Gokhru, along with Kishanlal Udaylal Jain and Pankaj Kushal Singh Jain, opened bank accounts of 10 shell firms in Mumbai, Maharashtra and the funds collected from depositors in Uttarakhand were transferred to the bank accounts of these shell firms. Later, these funds were diverted to hundreds of bank accounts through layered transactions. CBI constituted a special team to investigate the case on daily basis, identify the properties of the accused and arrest them. During the investigation, the properties of the accused were identified and action was taken to attach them through the competent authority of Uttarakhand, which is the Finance Secretary, Government of Uttarakhand, Dehradun.

39 properties in Uttarakhand, Uttar Pradesh and Maharashtra belonging to the accused were identified and referred to the competent authority by the CBI to initiate attachment proceedings under the BUDS Act, 2019. Out of these 39 properties, till now provisional attachment orders have been issued in respect of 29 properties after following due procedure by the competent authority. Additionally, applications are also being filed before the designated courts for confirmation of these 29 provisionally attached properties by the competent authority. In respect of the remaining 10 properties, the competent authority is in the process of initiating provisional attachment proceedings. During the investigation, 07 accused were arrested by CBI, namely Tarun Kumar Maurya, Mamta Bhandari, Gaurav alias Gaurav Rohila, Rajendra Singh Bisht, Sushil Kumar Gokhru, Kishanlal Udaylal Jain and Pankaj Kushal Singh Jain. All the above accused are currently in judicial custody. Further investigation is underway against other accused.