CID Summons Shubman Gill and Three Other Players in Massive Financial Fraud Case Involving ₹450 Crore
Gujarat CID has summoned Shubman Gill and three other Gujarat Titans players in connection with a ₹450 crore Ponzi scheme. The players, including Gill, invested significant amounts in BZ Financial Services, which promised high returns but turned out to be a scam.
Gujarat CID has summoned Shubman Gill and three other Gujarat Titans players in connection with a ₹450 crore Ponzi scheme. The players, including Gill, invested significant amounts in BZ Financial Services, which promised high returns but became a scam.
Table of Contents
Four Gujarat Titans Cricketers Summoned by Gujarat CID
Four Gujarat Titans (GT) cricket team players, including their captain Shubman Gill, have been summoned by the Gujarat Crime Investigation Department (CID) in connection with their investments in a Ponzi scheme operated by BZ Financial Services. The scam, initially believed to involve ₹6000 crore, was later revised to ₹450 crore after further investigation. Alongside Gill, GT players Sai Sudharsan, Mohit Sharma, and Rahul Tewatia are also investigated for their involvement in the scheme.
Shubman Gill’s ₹1.95 Crore Investment
Reports indicate that Shubman Gill, currently in Australia for the Border-Gavaskar Trophy 2024-25, had invested a significant amount of ₹1.95 crore in BZ Financial Services. Meanwhile, the other three players had invested smaller amounts, ranging between ₹10 lakh and ₹ 1 crore. The Gujarat CID is actively investigating the cricketers’ investments and plans to summon them for further questioning as soon as they are available.
Also Read: Tension in Indian Dressing Room: Senior Star Eyes Captaincy Amid Rohit Sharma’s Leadership Woes
The Ponzi Scheme and False Promises of High Returns
BZ Financial Services, led by Bhupendrasinh Zala, enticed investors with promises of higher returns than traditional banks. However, when it became clear that these returns were false, multiple victims—including the four cricketers—came forward to report the fraud. Zala, the CEO of BZ Financial Services, was initially suspected of orchestrating a ₹6000 crore chit-fund scam, but the CID later revised the figure to ₹450 crore. Zala has reportedly confessed during his interrogation that the money invested by the cricketers was never returned.
CID Investigation and Cricketers’ Involvement
The CID is continuing its investigation into the Ponzi scheme and the involvement of the Gujarat Titans players. While Shubman Gill is unavailable for questioning due to his commitment to the Indian Test team, Sudharsan, Sharma, and Tewatia, who are based in India, are expected to travel to Gujarat soon for their interrogation. The 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.
This investigation highlights the rising concern over fraudulent financial schemes, with the involvement of high-profile individuals drawing further attention to the issue.
