ED arrests accused in Loni cooperative society case
The Enforcement Directorate has arrested Ravi Shankar Tiwari in connection with a ₹10,314 crore misappropriation case involving the Loni Urban Multi State Credit and Thrift Cooperative Society. The accused allegedly routed illicit funds through various entities linked to the SAGA Group.
Why it matters
This case represents a significant crackdown on financial fraud within cooperative societies, which often impact millions of small-scale investors.
The Enforcement Directorate (ED) has arrested an accused in connection with the Loni Urban Multi State Credit and Thrift Cooperative Society (LUCC) case involving alleged misappropriation of about ₹10,314 crore belonging to over 30.51 lakh investors.
The accused has been identified as Ravi Shankar Tiwari alias Ravi Tiwari. On Wednesday (July 15, 2026), the agency produced him before a special court that sent him to ED custody for 10 days.
The ED’s probe is based on several First Information Reports registered in Lalitpur in Uttar Pradesh, and Teekamgarh in Madhya Pradesh against LUCC, the Lustiness Janhit Credit Cooperative Society Limited, and Option One Industries Limited.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in