The Central Bureau of Investigation (CBI) has attached 23 properties worth around Rs 25 crore in connection with the alleged fraud involving M/s Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC), a multi-state cooperative credit society accused of duping over 1.6 lakh depositors.
The attached assets include six properties in Uttarakhand, 16 in Uttar Pradesh, and one in Mumbai. The attachments were carried out under provisions of the Banning of Unregulated Deposit Schemes (BUDS) Act, with approvals obtained from the designated courts and competent authorities in the respective states.
According to the CBI, the properties were identified during the investigation as assets allegedly acquired by the accused using funds collected through the fraudulent deposit scheme. The agency said efforts are continuing to trace and attach additional assets linked to the case.
The case was taken over by the CBI in 2025 following directions from the Uttarakhand High Court, after multiple FIRs were registered by the Uttarakhand Police. The accused have been booked under provisions of the IPC, BNS, BUDS Act and UPID Act.
Investigators allege that the society lured more than 1.6 lakh depositors and misappropriated approximately Rs 419 crore collected from investors.
The CBI has so far arrested seven key accused in the case, all of whom are currently in judicial custody.