Police issued an attachment notice at the Jalaun home of an absconding LUCC scam accused linked to multiple fraud cases in Uttar Pradesh, while a separate Rs.4.44-crore cheque bounce case against him continues in Mumbai this week too.
Police have issued an attachment notice at the home of accused Shabab Hussain Rizvi, who remains absconding in connection with multiple fraud cases registered in Uttar Pradesh in the ongoing probe into the LUCC chit fund scam.
Authorities had earlier filed several cases against people linked to the chit fund operation, which allegedly collected substantial sums from investors before vanishing.
After court orders, police went to Rizvi’s residence in Jalaun district and pasted an attachment notice on the property when he failed to appear before the court despite repeated summons.
Separately, Rizvi is now facing fresh legal action in Mumbai related to a high-value financial dispute involving an aviation training company. Legal documents show a case has been lodged at the Girgaon Court over a cheque bounce for Rs.4.44 crore.
The court has summoned Shabab Hussain Rizvi, along with Bishwajit Badal Ghosh and Piyalee Shyamlendu Chatterjee, directors of Myfledge Private Limited.
Actor Aayush Shah has filed criminal complaints against the company, alleging “systematic cheating and forgery amounting to Rs.4,44,48,000.”
The complaint also asserts that investors and students were misled about the institute’s assets, infrastructure, and professional credentials.
Several students have complained about the non-delivery of promised aviation training infrastructure, certifications, and facilities, raising questions about the institute’s legitimacy in Uttarakhand and other locations.
Complaints additionally allege that the accused rebranded the company from “Myfledge Private Limited” to “Fledge Institute of Aviation and Hospitality,” purportedly to continue operations and potentially attract new students and investors under a different name.
Investigations and legal proceedings in both Uttar Pradesh and Mumbai are ongoing.
The LUCC scam had earlier attracted nationwide attention after reports suggested that some promotional activities were linked to Bollywood personalities. With the latest Mumbai court case, the focus has once again shifted to Shabab Hussain’s role in multiple financial ventures.
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His alleged involvement in this second high-value dispute has further complicated the legal situation and deepened concerns for thousands of victims still waiting for justice in Uttarakhand.
A cheque bounce case is a criminal and civil legal action taken when a cheque issued by a person is returned unpaid by the bank due to insufficient funds or other legal defects.
In India, cheque bounce cases are mainly governed by Section 138 of the Negotiable Instruments Act, 1881.