CBI Cracks Down on LUCC Chit Fund Scam, Five Accused Arrested

CBI Cracks Down on LUCC Chit Fund Scam, Five Accused Arrested
Dehradun/New Delhi. Central Bureau of Investigation (CBI) has arrested five accused, including a key kingpin, in connection with the massive LUCC chit fund scam in Uttarakhand. The arrested individuals have been identified as Sushil Gokhroo, Rajendra Singh Bisht, Tarun Kumar Mourya, Gaurav Rohilla, and Mamta Bhandari. The arrests were made from different locations across the country.
According to the CBI, the case pertains to Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC), which allegedly lured thousands of investors in Uttarakhand into investing in unregulated deposit schemes by promising high returns.
Probe Transferred to CBI by High Court
The investigation was handed over to the CBI in 2025 following orders by the Uttarakhand High Court. Acting on the court’s directions, the agency registered a case on November 26, 2025, under various sections of the IPC, BNS, the Uttarakhand Protection of Interests of Depositors Act, and the Banning of Unregulated Deposit Schemes (BUDS) Act.
Over One Lakh Investors Allegedly Duped
CBI investigations have revealed that more than one lakh investors were allegedly persuaded to deposit money in multiple LUCC schemes. The total investment collected is estimated at nearly Rs 800 crore. While partial repayments were made to some investors, the fraud amount is believed to exceed Rs 400 crore.
Main Accused Absconding Abroad
The agency stated that the main accused, Sameer Agrawal, along with his wife Saniya Agrawal, has fled abroad. Lookout notices and other legal measures have been initiated against them.
Properties Acquired Through Proceeds of Crime
The investigation has further revealed that several immovable properties were allegedly purchased using the proceeds of the scam. The CBI has shared details of these properties with the Finance Secretary of the Uttarakhand Government, seeking action to freeze them and facilitate compensation for victims under the provisions of the BUDS Act, 2019.
A special CBI team is continuing the investigation using technical surveillance and intelligence inputs to trace other absconding accused. The arrested individuals are being produced before the competent court, while further investigation is underway.