CBI secures attachment of ₹25 crore assets in Uttarakhand chit fund case
The CBI has attached assets worth ₹25 crore belonging to the Loni Urban Multi State Credit and Thrift Co-operative Society. This action follows allegations of a massive chit fund scam involving the misappropriation of ₹419 crore.
Why it matters
This represents a significant effort by federal authorities to recover funds for over 1.6 lakh depositors affected by financial fraud.
The Central Bureau of Investigation (CBI) has secured attachment of 23 properties of the accused in Loni Urban Multi State Credit and Thrift Co-operative Society (LUCC) Chit Fund case. They are located in different parts of Uttarakhand, Uttar Pradesh and Mumbai.
The report relies on official agency statements and court records to describe the investigation.
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