Accused in Uttarakhand's LUCC scam summoned in fresh Rs 4.44 crore cheque bounce case in Mumbai
DEHRADUN: Legal pressures are intensifying dramatically for Shabab Hussain, the central figure in the massive Loni Urban Multi Credit and Thrift Cooperative Society (LUCC) scam that crippled thousands of depositors across Uttarakhand. Hussain, already facing scrutiny for the multi-crore cooperative society fraud that originated by aggressively courting investors in Uttarakhand starting in 2019, has now been summoned by a Mumbai court over a separate, high-value financial dispute involving an aviation training firm. The Girgaon court has issued fresh summons for Hussain, along with directors of Myfledge Private Limited, Bishwajit Badal Ghosh and Piyalee Shyamlendu Chatterjee, in connection with a staggering Rs 4.44 crore cheque bounce case. All parties are mandated to appear on February 4, 2026. This new legal challenge connects Hussain to Myfledge, an aviation training institute promoted as a pan-India education network, adding a significant new dimension to the ongoing national investigation into the LUCC scamwhich saw deposits exceeding an estimated Rs 1,500 crore frozen following the scheme's abrupt collapse. The fresh proceedings stem from criminal complaints filed by actor Aayush Shah, who alleges systematic cheating and forgery amounting to Rs 4,44,48,000 against Myfledge. Crucially, complainants assert that investors and students were deliberately misled about the institutes assets and credentials across its claimed network of centres, a network that included operations in Dehradun. Students have reported non-delivery of promised training infrastructure and certifications, escalating concerns over the firms legitimacy, both in Uttarakhand and elsewhere. What we trusted as an education venture turned out to be a calculated operation to deceive, actor Aayush Shah told TNIE . The scale of misrepresentationboth to investors and studentsis shocking. In a significant procedural move, the Girgaon court has directed the Oshiwara Police Station to submit details concerning an existing First Information Report (FIR). This FIR already names Ghosh, Chatterjee, their family members, and Hussain, signalling a deepening probe into the aviation firms operations parallel to the CBI probe ordered by the High Court into the primary LUCC fraud. Advocate K.P. Dubey, representing the complainants, confirmed the gravity of the situation. This is a clear case of financial fraud executed through deception and forgery, Dubey remarked, noting that investigations into the accuseds wider financial dealings are intensifying. The LUCC case first gained national attention when initial complaints linked promotional activities to Bollywood figures. Now, the legal spotlight turns sharply onto Hussains alleged involvement in this secondary, yet substantial, financial controversy, further complicating the fallout for victims in the hill state.
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