India's batting star Shubman Gill who led Gujarat Titans in the Indian Premier League (IPL) 2024 will most likely to be summoned by the Gujarat CID branch in an alleged connection with a Rs 450 crore ponzi scam, as per the reports of three other cricketers Sai Sudharsan, Rahul Tewatia and Mohit Sharma will also be summoned by CID for the same.
This comes after the interrogation of Bhupendrasinh Zala, the alleged mastermind behind the Ponzi scheme, as per a report by Ahmedabad Mirror. Zala reportedly admitted during questioning that he had failed to return the investments made by the cricketers involved.
Zala, who has been accused of orchestrating a Rs 450 crore chit-fund scam, is widely regarded as the “kingpin” of the Ponzi operation. He opened offices in several districts across Gujarat, including Talod, Himmatnagar and Vadodara, and enlisted agents to gather funds from investors. Zala is said to have collected Rs 6,000 crore in financial transactions through ICICI and IFC banks, totalling Rs 175 crore.
Gujarat Titans captain Gill invested Rs 1.95 crore in the scheme, while Mohit Sharma, Tewatia and Sudharsan made smaller contributions. Gill who is currently in Australia for the Border-Gavaskar Trophy 2024-25 will be summoned after the red ball series against Australia. Attempts to reach Mohit Sharma for comment have been unsuccessful.
As per Deputy Inspector General of Police (CID-Crime) Parikshita Rathod, ala used his company, BZ Financial Services, to collect money from investors by promising them high returns. Zala was on the run for nearly a month before being arrested in Mehsana district on December 27. He is currently in custody until January 4. reported business today.
Gujarat CID officials have stated that the players’ cooperation will be crucial in the ongoing investigation, and further developments are expected as the case progresses.