Shubman Gill and 3 other Gujarat Titans cricketers embroiled in Rs 4500000000 chit fund scam, set to be questioned by CID

Star India batter Shubman Gill is among four Gujarat Titans players reportedly set to be summoned by the Gujarat CID crime branch in connection with a Rs 450 crore Ponzi scam. The other cricketers likely to face questioning are Sai Sudharsan, Rahul Tewatia and Mohit Sharma.

This development follows the interrogation of Bhupendrasinh Zala, alleged to be the mastermind behind the scam, as reported by Ahmedabad Mirror newspaper. During questioning, Zala allegedly confessed to failing to return investments made by the cricketers involved.

Zala is accused of orchestrating the Rs 450 crore chit-fund scheme and is considered the ‘kingpin’ of the operation. He reportedly set up offices in multiple districts across Gujarat, including Talod, Himmatnagar, and Vadodara, and employed agents to gather funds from investors. Zala allegedly facilitated financial transactions amounting to Rs 6,000 crore through ICICI and IFC banks, with personal gains totaling Rs 175 crore.

Cricketer Shubman Gill, along with three other Gujarat Titans players, is expected to be questioned by the Gujarat CID crime branch in connection with a Rs 450 crore Ponzi scam, according to reports.

The players under investigation include Sai Sudharsan, Rahul Tewatia, and… pic.twitter.com/rwTWXENyZH

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Reports indicate that Gujarat Titans captain Shubman Gill invested Rs 1.95 crore in the scheme, while Mohit Sharma, Rahul Tewatia, and Sai Sudharsan contributed smaller amounts. Since Gill is currently in Australia as part of India’s Test squad, the CID plans to summon all the players at a later date.

Deputy Inspector General of Police (CID-Crime) Parikshita Rathod stated that Zala used his company, BZ Financial Services, to lure investors with promises of high returns. Zala, who had been evading authorities for nearly a month, was arrested on December 27 in Mehsana district and remains in custody until January 4.

Rathod also disclosed that Zala used the collected funds to acquire assets worth Rs 100 crore, including movable and immovable properties, but failed to repay investors as promised. Seven additional arrests have been made in connection with the case. Investigators claim Zala had promised investors an annual return of 36 percent.

Gujarat CID officials emphasized the importance of the players’ cooperation in advancing the investigation. Further updates on the case are expected as inquiries continue.

Meanwhile, Gill is set to return to the Indian playing 11 for the fifth and final Test against Australia at the Sydney Cricket Ground (SCG) from Friday. Gill is all set to replace Rohit Sharma, who will be dropped for the SCG Test.