DEHRADUN: The Central Bureau of Investigation (CBI) has filed a chargesheet against 18 accused, including the Loni Urban Multi-State Credit and Thrift Co-operative Society (LUCC), in an alleged Rs 800-crore unregulated deposit scam affecting nearly one lakh investors across Uttarakhand.
The chargesheet was submitted on Friday before the Special Court under the Banning of Unregulated Deposit Schemes Act in Dehradun. The accused face charges under provisions of the IPC, Bharatiya Nyaya Sanhita, Uttarakhand Protection of Interests of Depositors Act and Banning of Unregulated Deposit Schemes Act.
Those named include Sameer Agrawal, Shadab Husain, Uttam Kumar Singh Rajpoot, Sania Agrawal, Maya Singh Rajpoot, Jitendra Singh Niranjan, Dinesh Singh, Girish Chand Singh Bisht, Urmila Bisht, Jagmohan Bisht, Mamta Bhandari, Tarun Kumar Maurya, Gaurav alias Gaurav Rohilla, Sushil Gokharoo, Kishanlal Udaylal Jain, Pankaj Kushal Singh Jain, Rajendra Singh Bisht and LUCC.
The CBI took over the case after the Nainital High Court ordered in 2025 that all FIRs connected with the alleged scam be transferred to the central agency. It registered a case on November 26 and assumed responsibility for investigating 18 FIRs lodged across Uttarakhand.
According to investigators, LUCC was registered as a multi-state cooperative society by Vajid Khan in 2012. Sameer Agrawal allegedly took control of its management in 2016 and constituted a new board of directors.
The society subsequently launched several allegedly unregulated deposit schemes through more than 50 branches in Uttarakhand. Investors were promised attractive returns, helping the society collect around Rs 800 crore, the agency claimed.
CBI officials described Mumbai resident Sameer Agrawal as the alleged mastermind who controlled LUCC’s management and key decisions. He is accused of operating the deposit schemes before fleeing abroad with his wife, Sania Agrawal.
The probe identified Shadab Husain, Uttam Kumar Singh Rajpoot and Dinesh Singh as key office-bearers involved in LUCC’s operations. Investigators also alleged that Sushil Kumar Gokharoo, along with Kishanlal Udaylal Jain and Pankaj Kushal Singh Jain, opened bank accounts for 10 shell companies in Mumbai. Depositors’ money was allegedly routed through these entities and diverted to hundreds of accounts using layered transactions.
Seven accused have been arrested and remain in judicial custody.
Actor Ayush Shah, who claims to be a victim of a similar fraud-linked network, said the swift investigation had renewed hope that financial fraud cases would be pursued seriously and urgently.
