LUCC Scam – Uttarakhand Activist Completes 350 km March Seeking Justice for Investors
LUCC Scam – Saraswati Devi, a social activist from Srinagar in Uttarakhand, has drawn national attention after completing a challenging 350-kilometre march on foot to Delhi. Her journey represents the voices of nearly 1.5 lakh investors who say they lost their life savings in the Loni Urban Multi-State Credit & Thrift Co-operative Society (LUCC) chit-fund fraud.
The activist reached the national capital on International Women’s Day, symbolically marking her campaign for justice. According to her, the march was not intended as a political demonstration but as a collective appeal from thousands of affected families seeking accountability and relief.
March Represents Thousands of Affected Families
Speaking after arriving in Delhi, Devi said the protest reflects the deep distress of families whose financial security was wiped out by the alleged fraud. Many of the victims, she explained, are homemakers who invested small but crucial savings meant for their children’s education or their future stability.
She described the march as an effort to bring attention to the struggles of ordinary people who trusted the investment scheme. Devi said the group hopes the President will acknowledge the magnitude of the issue and help push for swift action to address the grievances of victims.
Long Journey Through Several Towns
The march began in Srinagar Garhwal and covered several towns before reaching Delhi. Devi travelled through Devprayag, Rishikesh, Haridwar, Roorkee, Muzaffarnagar, and Ghaziabad during the journey.
Despite physical exhaustion and the logistical challenges of walking such a long distance, she continued the march to highlight the urgency of the issue. The activist said earlier attempts to seek assistance through administrative channels had not produced meaningful outcomes.
Petitions were previously submitted to local officials, including the Sub-Divisional Magistrate and District Magistrate, but according to Devi, those efforts did not result in concrete progress for the victims.
Demand for Meeting With the President
Devi has stated that she intends to remain in the capital until she receives an opportunity to present the investors’ concerns directly to the country’s highest office. Her goal, she says, is to ensure that authorities acknowledge the scale of the problem and strengthen the investigation.
The activist has previously been involved in several social causes in Uttarakhand. She was also among those who publicly demanded accountability in the Ankita Bhandari murder case, which drew widespread public attention in the state.
LUCC Scam’s Financial Impact
The LUCC chit-fund case is believed to involve an estimated financial loss of around ₹800 crore. According to investigators and victim accounts, investors were encouraged to deposit money with promises of unusually high returns.
Many families say they trusted the scheme after local agents promoted it widely across towns and villages. However, the situation changed abruptly when several offices linked to the organization reportedly shut down, leaving investors unable to recover their deposits.
For numerous households in Uttarakhand, the loss has created severe financial hardship. Victims claim that their savings accumulated over many years disappeared without warning.
Ongoing Investigation and Related Cases
The Central Bureau of Investigation is currently examining the fraud. Authorities have proposed the creation of a centralized online portal to collect and verify information from victims across different regions.
While the proposal aims to streamline the process of documenting claims, many affected investors remain uncertain about how long the investigation will take or whether they will eventually recover their money.
Investigators are also examining links between the LUCC operation and other financial activities involving a company named Myfledge. Several individuals, including Shabab Hussain Rizvi, Bishwajit Ghosh, and Piyali Chatterjee, are under scrutiny as part of the ongoing probe.
As Saraswati Devi continues her campaign in Delhi, thousands of families across Uttarakhand are watching closely, hoping her efforts will lead to stronger action and long-awaited relief for those affected by the alleged financial fraud.