Central bureau of investigation (CBI) has arrested five accused, including an alleged kingpin, in connection with the multi-crore Loni Urban Multi-State Credit & Thrift Cooperative Society (LUCC) chit fund scam in Uttarakhand that allegedly duped more than one lakh investors through unregulated deposit schemes. The arrested accused have been identified as Sushil Gokhroo, Rajendra Singh Bisht, Tarun Kumar Mourya, Gaurav Rohilla and Mamta Bhandari.
According to the agency, the accused were arrested from different locations across the country as part of an ongoing investigation into the LUCC chit fund scam. The scale of victimisation was unprecedented, with more than one lakh investors estimated to have deposited around ₹800 crore in the schemes, it says.
CBI says the Uttarakhand High Court’s Nainital bench had transferred all first information reports (FIRs) related to the LUCC scam to the agency in 2025, following which a case was registered on 26 November 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.
According to the investigation, a very large number of investors in Uttarakhand were allegedly lured into investing in various unregulated deposit schemes floated by LUCC.
While some partial repayments were allegedly made, the fraud amount is estimated to exceed ₹400 crore.
CBI says investigation in the case was being carried out on a day-to-day basis and a special team had been constituted to trace and track the accused using technical surveillance and source-based intelligence.
According to the agency, the main accused in the case, Sameer Agrawal, along with his wife Saniya Agrawal, has absconded abroad and lookout notices and circulars had been issued against them.
The investigation has also revealed that several immovable properties were allegedly acquired by the accused persons using proceeds of crime generated through the scam.
Details of these properties have been shared with the secretary for finance, in Uttarakhand government, with a request to freeze the assets and initiate steps for distribution to victims under provisions of the BUDS Act, 2019.
The arrested accused were being produced before the competent court, while further investigation in the case is continuing, the agency says.
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