CBI arrests 5 in Rs 400 cr LUCC chit fund scam in Uttarakhand

Dehradun: The Central Bureau of Investigation has arrested five people, including an alleged kingpin, in connection with the LUCC chit fund scam in Uttarakhand, which investigators said involved large-scale cheating of depositors through unregulated investment schemes.The arrested accused were identified as Sushil Gokhroo, Rajendra Singh Bisht, Tarun Kumar Mourya, Gaurav Rohilla and Mamta Bhandari. According to the CBI, the arrests were made from different locations across the country as part of its ongoing probe into the activities of M/s Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC).The agency said the Uttarakhand high court transferred all FIRs linked to the alleged scam to the CBI in 2025. Following the order, the agency registered a case on Nov 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.According to the CBI, the investigation has so far revealed an “unprecedented scale of victimisation” in Uttarakhand, where more than one lakh investors were allegedly induced to deposit money in various unregulated schemes floated by LUCC. The total deposits are estimated at around Rs 800 crore.The agency said while some partial repayments were made to depositors, the alleged fraud amount is estimated to exceed Rs 400 crore.The CBI further said that the main accused, Sameer Agrawal and his wife Saniya Agrawal, had absconded abroad. Notices and circulars have been issued against them, the agency added.Investigators also found that several immovable properties were allegedly acquired using proceeds of the crime. Details of these assets have been shared with the competent authority -- the secretary, finance, Govt of Uttarakhand -- with a request to freeze the properties and initiate steps for restitution to victims under provisions of the BUDS Act, 2019.The CBI said a special team has been constituted to trace other accused using technical surveillance and source-based information. The arrested accused were being produced before the competent court, while further investigation is underway.