Shubman Gill and Gujarat Titans Players Summoned in Rs 450 Crore Ponzi Scam

Young Indian cricketer Shubman Gill, along with his IPL teammates Sai Sudharsan, Rahul Tewatia, and Mohit Sharma is now the surveillance of Gujarat CID crime branch. These all players are being questioned by the CID due to a massive Rs 450 crore Ponzi scam led by Bhupendrasinh Zala who has been identified as the main accused in this case.

When Case Under The Highlight Of CID?

The case came to light when Zala, during his interrogation, admitted to failing to return the investments made by several individuals, including these cricketers. Gill is said to have put Rs 1.95 crore into the scheme, which makes him one of the biggest investors in the group. Other players like Mohit Sharma, Rahul Tewatia, and Sai Sudharsan reportedly invested smaller amounts. Right now, Shubman Gill is in Australia for the Border-Gavaskar Trophy series, but the CID plans to call him in for questioning when he gets back. Meanwhile, the authorities will be talking to the other players. When the media asked Mohit Sharma about it, he chose not to say anything.

How the Ponzi Scam Worked

Bhupendrasinh Zala was said to be running a Ponzi scheme through his company, BZ Financial Services. He lured investors by promising them a huge annual return of 36%, which drew in many people from Gujarat. Zala opened offices in Talod, Himmatnagar, and Vadodara, working with agents to gather money from unsuspecting investors.

As the investigation unfolded, it was discovered that Zala had amassed Rs 6000 crore from different sources, with Rs 450 crore tied to fraudulent activities. He reportedly used some of this money to buy assets worth Rs 100 crore but did not deliver the promised returns to his investors. Zala managed to avoid arrest for more than a month before he was finally caught in the Mehsana district. He is currently in police custody until January 4. The Gujarat CID crime branch has also detained several other people connected to the scam.

CID’s Expectations

The Gujarat CID has urged the cricketers to cooperate fully with the investigation, as their statements may provide critical leads in the case. Officials believe more revelations will come to light as the probe continues. This high-profile case has drawn significant attention, not only because of the financial losses but also due to the involvement of well-known personalities like Shubman Gill.