The Gujarat Titans, who placed seventh in the Indian Premier League (IPL) 2024 standings, included Shubman Gill, Sai Sudharshan, Rahul Tewatia, and Mohit Sharma in their roster.
According to a source, the Gujarat CID crime division is expected to summon four Gujarat Titans cricket players, including India international Shubman Gill, in connection with a ₹450 crore ponzi scheme. In addition to Gill, Mohit Sharma, Rahul Tewatia, and Sai Sudharshan are also anticipated to be called up.The event follows the questioning of Bhupendrasinh Zala, the mastermind of the ponzi scheme, according to an Ahmedabad Mirror article. Zala admitted during the interrogation that he had failed to reimburse the cricket players who had contributed to the scam.
Gill, who captained Gujarat Titans in the 2024 Indian Premier League, allegedly invested ₹1.95 crore, according to the report, CID authorities said. Mohit, Tewatia, and Sudharsan, among others, made modest investments.
According to CID officials, the cricket players will be called together at a later time because Shubman Gill is currently with the Indian Test team in Australia. Mohit was contacted by the website, but the former cricket player for India did not reply.
Bhupendrasinh Zala is who?
According to authorities, Zala, a resident of the Himmatnagar town of Sabarkantha, used his 17 offices spread around the state between 2020 and 2024 to collect ₹450 crore from 11,000 investors. Those 11,000 investors are thought to include Gill and the other three cricket players.
Parikshita Rathod, the Deputy Inspector General of Police (CID-Crime), claims that Zala obtained the investors' money through his company, BZ Financial Services, by pretending to give them greater profits. Before the police apprehended him from Mehsana district on December 27, he had been evading capture for nearly a month.
He will remain detained until January 4. Rathod stated that after obtaining funds from the investors, Zala acquired movable and immovable properties valued at ₹100 crore. He did not, however, fulfill his pledge to repay the money.
We now know that about 11,000 people have put money into plans that Zala's company has floated. Approximately ten of these had contributed over ₹1 crore. Rathod informed reporters that more research was being done on his assets, operatives, and methods of operation.
In relation to the case, the CID also arrested seven other people. The CID claims that Zala assured the investors of an annual return of 36%. Before going into default, his companies would first give investors the profits they had promised in order to gain their faith. To entice investors, he had also hired brokers on a commission basis, according to a CID statement.
He will remain detained until January 4. Rathod stated that after obtaining funds from the investors, Zala acquired movable and immovable properties valued at ₹100 crore. He did not, however, fulfill his pledge to repay the money.
We now know that about 11,000 people have put money into plans that Zala's company has floated. Approximately ten of these had contributed over ₹1 crore. Rathod informed reporters that more research was being done on his assets, operatives, and methods of operation.
In relation to the case, the CID also arrested seven other people. The CID claims that Zala assured the investors of an annual return of 36%. Before going into default, his companies would first give investors the profits they had promised in order to gain their faith. To entice investors, he had also hired brokers on a commission basis, according to a CID statement.
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