Shubman Gill and Gujarat Titans players linked to Rs 450 crore ponzi scam

India’s cricket star Shubman Gill and three other Gujarat Titans players are likely to be summoned by the Gujarat CID Crime Branch for questioning in a Rs 450 crore Ponzi scam. Along with Gill, the other players involved are Sai Sudharsan, Rahul Tewatia, and Mohit Sharma.  

The case centers around Bhupendrasinh Zala, who is accused of running the scam through his company, BZ Financial Services. According to reports, Zala collected funds from investors by promising them high returns but failed to repay them.  

During interrogation, Zala admitted to taking investments from the cricketers. Gill reportedly invested Rs 1.95 crore in the scheme, while the other players contributed smaller amounts. Since Gill is currently in Australia as part of India’s Test squad, the CID plans to summon the players later.  

Deputy Inspector General of Police (CID-Crime) Parikshita Rathod explained that Zala set up offices across Gujarat, including in Talod, Himmatnagar, and Vadodara, and used agents to collect funds. Zala allegedly handled financial transactions worth Rs 6,000 crore through ICICI and IFC banks, totaling Rs 175 crore.  

Zala, known as the "kingpin" of the operation, was arrested on December 27 after being on the run for nearly a month. He remains in custody until January 4. Authorities revealed that Zala used the money to acquire assets worth Rs 100 crore but failed to fulfill his promises of 36% annual returns to investors.  

The CID believes the players' cooperation will be vital in the investigation, and further updates are expected as the case unfolds.