Special Report | 2025Uttarakhand Scam Diary: Investments, Betrayal, Conspiracy, and the Dawn of Hope
Over the past ten years of my journalistic journey, I’ve seen many layers of Uttarakhand—but the period from 2017 to 2025 has truly tested the economic hopes, trust, and dreams of ordinary families across the state. Under the guise of “investment,” people have been robbed—by chit fund scams, multi-state credit companies, and digital fraud networks. These didn’t just empty people’s wallets—they drained their faith too.
Now, in 2025, as I sift through old files, protest reports, and government investigations, I realize this story is not merely about scams—it is about human suffering, governmental accountability, and a society’s collective struggle.
The Latest Shock: The Doon Samriddhi Nidhi Scam, 2025
The hope for a “new dawn” in Uttarakhand remains unfulfilled—especially when government, investors, and society repeatedly fall prey to yet another scam. The latest in this series is the “Doon Samriddhi Nidhi Limited Scam”, which has once again sparked fear, anger, and despair among hundreds of families who invested across Dehradun, Haridwar, Pauri, and neighboring districts.
The Doon Samriddhi Nidhi Limited Scam: 2025 Timeline
This microfinance company—run by government school teacher Jagmohan Singh Chauhan and his wife Neelam Chauhan—flourished between 2022 and 2024. Promising “12% annual returns,” “assured profits,” and “easy investment plans,” the couple lured hundreds of middle-class and rural families. The company operated under multiple names—Samriddhi Nidhi Limited, Sarv Microfinance India Association, and Doon Infratech—collecting crores of rupees.
By early 2025, the interest payments stopped. In October 2025, the company shut down, and the owners disappeared. Police have registered a case under IPC Section 420 and other provisions. Investigations continue, but the chances of money recovery remain bleak.
Key Events:
- Company launched in 2022 around Dehradun and nearby regions.
- Directors: Govt. teacher Jagmohan Singh Chauhan and wife Neelam Chauhan.
- Promised 12% annual interest.
- Operated under several names, collecting crores.
- Investors mortgaged assets and took loans to invest.
- Interest payments stopped in early 2025.
- Company closed in October 2025; owners absconded.
- FIR filed under IPC 420 and related sections.
- Investigation ongoing; recovery hopes minimal.
- Widespread anger and despair among victims.
The Illusion of Investment and Thousands of Broken Dreams
This is not the first time investors have been deceived in the name of attractive returns. As digital money spread, so did the criminals’ opportunities. Under the guise of convenience and modern finance, technology became the new weapon of fraud.
From Sunita Bisht of Srinagar Garhwal to Babita from Rudraprayag, Mahipal Singh from Dehradun, and Pooran Chandra from Almora—their voices still echo in my memory. “LUCC,” a multi-state company, trapped women, ex-servicemen, small traders, and agents with promises like “Your money will double in four years—don’t worry about the family.” The result: thousands across Garhwal and Dehradun are now struggling to rebuild their lives amidst police cases, protests, and social humiliation.
Sunita Bisht’s words still haunt me:
“My home, relationships, everything is gone… Now I spend my days running between lawyers, police stations, and politicians.”
Digital Arrest: New Era, New Deception
After 2019, “Digital Arrest” scams posed a new kind of crime challenge for Uttarakhand Police. Fraudsters targeted even retired officials and teachers—posing as Mumbai Police or CBI officers on video calls, extorting money through fear and intimidation.
Victims like Pooran Chandra Joshi, who spent 15 days in virtual “digital custody,” and an ONGC officer who lost crores, show how deeply these scams penetrate. Many victims were too ashamed or scared to even tell their families—a psychological trap as dangerous as the financial one.
Major Financial Scams in Uttarakhand (2017–2025)
| Scam | Amount | Key Details |
|---|---|---|
| LUCC Chit Fund Scam | ₹189 crore | Company from Ghaziabad opened 35 branches across Uttarakhand, duping investors by promising to double their money in 4–5 years. Main accused absconded to Dubai; CBI probe approved. |
| Fake Loan Apps Network | ₹750 crore | Chartered Accountant Abhishek Agarwal operated 35–40 shell companies running over 15 fake loan apps. STF arrested him and issued a Look-Out Circular. |
| Samriddhi Nidhi Ltd. & Microfinance Company | ₹150 crore | Teacher Jagmohan Chauhan’s company promised 12% returns; after years of regular payouts, owners fled with investors’ money. |
| Social Mutual Benefit Nidhi Ltd. | ₹200 crore | 50,000 fake accounts created, including in names of minors and deceased persons. Investigation ongoing. |
| Digital Arrest Scam | ₹12.7 crore | In 2024 alone, 15 cases surfaced; victims included a retired vice-chancellor, ONGC general manager, and teachers. |
| NH-74 Compensation Scam | ₹211 crore | Agricultural land shown as non-agricultural to claim inflated compensation. 8 PCS officers found guilty; ED filed money laundering case worth ₹8 crore. |
| Jolly Grant Airport Scam | ₹232 crore | Dehradun Airport Manager accused of investing government funds in stock markets. Case under court investigation. |
| Haridwar Land Scam | ₹54 crore | Land worth far less purchased at inflated rates by Haridwar Nagar Nigam; 12 officers suspended. |
These scams have inflicted not only economic losses but also deep social and emotional wounds. Despite numerous investigations, most cases remain unresolved.
Government Action: Real Vigilance or Mere Optics?
To its credit, the government has taken visible steps. Chief Minister Pushkar Singh Dhami approved CBI inquiries into chit fund cases like LUCC, suspended several high-ranking officers, and initiated property seizures and refund efforts with banks and Interpol cooperation.
The STF recovered ₹31.41 crore in two years from cyber frauds through account freezes and court-ordered reimbursements. Yet, this is negligible compared to the ₹1,800+ crore total loss.
In August 2025, the government tightened registration rules for chit fund companies, introduced digital transaction monitoring, and launched cyber awareness campaigns. “Video conferencing courts” and the expanded Victim Compensation Policy are also positive moves. The ED’s probe into land and money-laundering cases signals that bureaucracy itself is not immune.
Justice Still Pending
Despite official announcements and strong rhetoric, thousands of victims still await both money and justice. From the outside, it appears the administration is acting tough—but on the ground, victims continue their struggle through protests, hunger strikes, and petitions.
Their collective cry still echoes:
“Those who sold us dreams now live abroad. Our homes are mortgaged, our children out of school—when will we get justice?”
A Ray of Hope?
Uttarakhand today stands at a crossroads. Rising revenue, stricter governance, and assertive policies give the state some confidence that future frauds might be curbed. Digital literacy, youth awareness, and special courts could make a real difference.
Yet, the real transformation will come only when administration, media, and society together ensure that “investment” stops being a dream-selling business and becomes a path to secure futures.
In the dark diary of Uttarakhand’s scams, a faint light still flickers—the question is: how long can the people, the system, and the state wait for that dawn?
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