CBI Arrests Two Masterminds Behind ₹800 Crore LUCC Chit-Fund Scam in Uttarakhand
मुख्य बातें
- •The CBI arrested two alleged masterminds, Kishan Jain and Pankaj Jain, in Mumbai on June 1, 2026, in connection with the ₹800 crore LUCC chit-fund scam.
- •The arrests follow an investigation ordered by the Uttarakhand High Court, which transferred the case to the CBI in November 2025.
- •Over one lakh investors in Uttarakhand were allegedly cheated by LUCC, with total investments amounting to approximately ₹800 crore.
- •The accused are alleged to have committed offenses including illegal collection of public deposits, cheating, criminal breach of trust, and misappropriation of funds.
The Central Bureau of Investigation (CBI) has made significant progress in the ₹800 crore LUCC chit-fund scam case, arresting two alleged masterminds—Kishan Jain and Pankaj Jain—in Mumbai on Monday, June 1, 2026. The arrests come after a prolonged investigation spanning multiple states, following a directive from the Uttarakhand High Court, which had transferred the case to the CBI in November 2025.
According to CBI officials, the accused were traced and apprehended after an intensive investigation that involved analyzing extensive financial records, examining bank transactions, gathering oral evidence, and conducting field operations across various states. The agency described the scam as one of unprecedented scale, where over one lakh investors in Uttarakhand were allegedly lured into investing in unregulated deposit schemes operated by the Loni Urban Multi-State Credit and Thrift Co-operative Society (LUCC). The total estimated investment by these depositors stands at approximately ₹800 crore.
