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CBI attaches 23 properties across 3 states in ₹419cr LUCC chit fund cheating case
The attached properties are linked to the LUCC chit fund case, which allegedly duped over 1.6 lakh depositors and involved fraud exceeding ₹419 crore.
The Central Bureau of Investigation (CBI) has attached 23 properties across Uttarakhand, Uttar Pradesh and Mumbai in connection with the multi-crore Loni Urban Multi-State Credit & Thrift Co-operative Society (LUCC) chit fund case, officials said on Thursday.
The agency said the case involves the alleged misappropriation of more than ₹419 crore and the cheating of over 1.6 lakh depositors, with properties worth around ₹25 crore attached so far. It identified several properties allegedly acquired by the accused using funds linked to the fraud during the course of the investigation.
Of the 23 properties attached so far, six in Uttarakhand were attached through orders issued by the competent authority under the Banning of Unregulated Deposit Schemes (BUDS) Act. In Uttar Pradesh, 16 properties were attached after authorisation was obtained from the designated BUDS Act court. One property in Mumbai was also authorised for attachment by the designated BUDS Act court in Maharashtra.
The CBI said it is in the process of obtaining formal attachment orders for the Mumbai property through the competent authority in Uttarakhand. Officials added that efforts are underway to identify and attach additional assets linked to the accused.
So far, properties worth approximately ₹25 crore have been attached in the case, the agency said.
The CBI took over the investigation in 2025 following directions from the Uttarakhand high court, which ordered the transfer of multiple FIRs registered by the Uttarakhand Police in connection with the case to the central agency.
The agency has arrested seven suspects in the case, all of whom are currently lodged in judicial custody.
Also Read: Uttarakhand: CBI arrests five accused in ₹400 crore chit fund case
The agency said the case pertains to alleged fraud committed through LUCC, which allegedly duped investors in Uttarakhand by luring them into unregulated deposit schemes.
The CBI formally registered the case on November 26, 2025, after taking over all related FIRs from the Uttarakhand Police. The case was registered under various provisions of the Indian Penal Code (IPC), the Bharatiya Nyaya Sanhita (BNS), the Uttarakhand Protection of Interests of Depositors Act and the Banning of Unregulated Deposit Schemes Act.
According to the agency, the total deposits mobilised through the schemes are estimated at around ₹800 crore. While a portion of the deposits was allegedly repaid, the fraud amount is estimated to exceed ₹400 crore.
CBI officials said the investigation is continuing and further action is expected as additional assets and financial transactions linked to the scam are traced.
