Daijiworld Media Network - Dehradun
Dehradun, Feb 2: In a major relief for over 1.5 lakh investors affected by the Loni Urban Multi-State Credit & Thrift Co-operative Society (LUCC) scam, the Uttarakhand government has decided to launch a dedicated integrated online portal to enable victims to submit their complaints.
The decision follows a formal request made by the Central Bureau of Investigation (CBI) on January 14. Acting on this, Secretary Dilip Jawalkar directed the State Cooperation Department to immediately initiate the development of the portal.
The LUCC management is accused of cheating investors of nearly Rs 800 crore by luring them with attractive returns on fixed and recurring deposits. The society operated through 35 branches across Uttarakhand and deployed hundreds of agents to mobilise small savings, primarily from rural and semi-urban areas.
The scam surfaced in June 2024 after all LUCC offices abruptly shut down. The first FIR was registered at the Kotdwar police station based on a complaint by Tripti Negi, following which multiple complaints poured in. So far, 18 FIRs have been registered across six districts, including Dehradun and Haridwar, and more than 12 officials and agents have been arrested.
Initially, the probe was handled by the state CID. However, a Public Interest Litigation filed by Ashutosh Negi, later merged with another petition by Vishal Chhetri, prompted the Uttarakhand High Court to intervene. Subsequently, the CBI took over the investigation in July and on November 27 registered a consolidated FIR encompassing all 17 earlier cases.
Investigations have also revealed that the fraud extended beyond cooperative banking. Film actor Aayush Shah alleged that the prime accused, Shabab Hussain alias Shabab Hashim, along with partners Bishwajit Badal Ghosh and Piyalee Shyamlendu Chatterjee, ran a parallel fraud under the guise of another entity, Myfledge Private Limited.
“They induced me and my sister Mausam Shah to invest Rs 4.44 crore by showing forged property documents, bank statements and falsified income tax returns,” Shah claimed.
Sources said the main accused are still absconding and have repeatedly failed to appear before investigators. Victims have now approached the court seeking non-bailable warrants against them. Officials said the proposed portal will help the CBI assess the total financial liability and identify all affected investors across the state.