The Central Bureau of Investigation (CBI) has taken major action in the famous LUCC (Loni Urban Multi State Credit and Thrift Co-operative Society) chit fund scam of Uttarakhand. Here a charge sheet has been filed against 18 accused and one organization in the Special Court (Buds Act), Dehradun. The CBI has filed charges against the main accused Sameer Aggarwal, including Shadab Hussain, Uttam Kumar Singh Rajput, Sania Aggarwal, Maya Singh Rajput and other accused under various sections of the Indian Penal Code (IPC), Indian Judicial Code (BNS), Uttarakhand Investors’ Interest Protection Act and Banning of Unregulated Deposit Schemes (BUDS) Act.
According to CBI, on the orders of Uttarakhand High Court, investigation of all the cases related to LUCC scam was handed over to the agency in the year 2025. After this, CBI registered the case on 26 November 2025 and took over the investigation of 18 FIRs registered in different police stations of the state.
Formed a new board of directors
Investigation revealed that LUCC Society was registered in the year 2012. In the year 2016, Sameer Aggarwal took over the management of the society and formed a new board of directors. After this, money was deposited from people in the name of various investment schemes through more than 50 branches in Uttarakhand.
CBI alleges that the society had started its work in Uttarakhand even before getting official permission. The investigation also revealed that the organization had no real business or source of income. Payments to old investors were made from the money deposited by new investors. In this way, LUCC was allegedly cheating people by running a Ponzi scheme. CBI says that the charge sheet has been filed on the basis of evidence collected during the investigation. The case will now be heard in the special court.
’39 properties have been identified’
CBI has formed a special investigation team which is working daily to identify and arrest the suspects. It has identified 39 properties linked to the accused in Uttarakhand, Uttar Pradesh and Maharashtra and have offered them for confiscation under the BUDS Act, 2019. Temporary confiscation orders have been issued for 29 properties and the process of confirmation is underway. Action is underway on the remaining 10 properties.
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