The Central Bureau of Investigation (CBI) has filed a chargesheet against 18 accused persons and the Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC) in the alleged Uttarakhand chit fund scam, accusing them of cheating over one lakh depositors through illegal deposit schemes.
The chargesheet was filed before the Special Court under the BUDS Act in Dehradun.
According to the CBI, LUCC collected nearly Rs 800 crore from investors across Uttarakhand through unregulated deposit schemes run via more than 50 branches. Investigators estimate the fraud at over Rs 400 crore after partial repayments. The agency alleged that LUCC functioned as a Ponzi scheme, using fresh deposits to repay earlier investors.
The CBI named Sameer Agrawal as the mastermind, alleging he took control of LUCC in 2016, diverted funds through 10 shell firms, and later fled abroad with his wife, Sania Agrawal. Notices have been issued to secure their return.
The agency has identified 39 properties linked to the accused for attachment, while seven accused are in judicial custody. Further investigation is underway.
