ED arrests Ravi Shankar Tiwari in LUCC money laundering case

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ED arrests in LUCC scam

Highlights

ED arrested Ravi Shankar Tiwari in the LUCC money laundering case on July 14, 2026; Patiala House Court granted 10 days' custody.
LUCC, LJCC, and Option One Industries Limited are accused of misusing nearly ₹10,314 crore from 3,051 million investors by promising high returns.
ED's investigation found large sums from unknown sources in Tiwari and his family's accounts, and several immovable properties were purchased in their names from proceeds of crime.

This article was translated from the original. Read the original version by our correspondent here.

Background of Investigation and Arrest

According to the Enforcement Directorate, the Headquarters Investigation Unit arrested Ravi Shankar Tiwari, also known as Ravi Tiwari, on July 14, 2026, in connection with the ongoing money laundering case related to Loni Urban Multi State Credit and Thrift Cooperative Society, or LUCC, and others. He was produced before the Additional Sessions Judge-7 at Patiala House Court, New Delhi, on July 15, 2026, where the court granted 10 days of ED custody.

This investigation began based on several FIRs registered in Lalitpur, Uttar Pradesh, and Tikamgarh, Madhya Pradesh. It is alleged that LUCC, Lustiness Janhit Credit Cooperative Society Limited (LJCC), and Option One Industries Limited lured the public to invest in deposit schemes by promising high returns and later misused the invested funds.

According to the ED, several cases have been registered against these entities and their associates in various states across the country. The agency describes the case as involving fraud, embezzlement of invested funds, and other criminal offenses, affecting nearly ₹10,314 crore of over 3,051 million investors.

Links to SAGA Group and Investigation of Assets

During the investigation, the ED stated that Ravi Shankar Tiwari has been associated with the SAGA Group Network, led by Sameer Agrawal, as a senior official since 2009. According to the agency, he has also served as a team leader in Advantage Tradecom India Private Limited, Option One Industries Limited, LUCC, and other group entities, and actively assisted Sameer Aggarwal, who is said to be abroad, in the operations of LUCC and LJCC.

Statements recorded under Section 50 of the PMLA mention his alleged involvement in the crime and his role in SAGA Group entities. The ED claims that Tiwari and his family members received large deposits in various bank accounts from different group entities, for which they could not provide satisfactory explanations.

According to the agency, Tiwari had interests in several entities, which were allegedly used to receive, transfer, and withdraw proceeds of crime. The investigation also revealed that he acquired several residential and commercial properties in his and his family members' names, which the ED believes were purchased from the proceeds of the alleged crime. The ED has previously attached immovable properties in this case, and further investigation is ongoing.

Our previous report discussed ED's action in the money laundering case related to Rockland Hospitals Limited, in which immovable properties worth ₹158.37 crore were provisionally attached under the PMLA. The article referenced allegations of fake implant invoices, fund withdrawals through shell companies/entry operators, and inflating construction costs to conceal and legitimize alleged proceeds of crime.

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