New Delhi: Indian cricketer Shubman Gill and three of his Gujarat Titans teammates—Sai Sudharsan, Rahul Tewatia, and Mohit Sharma—are likely to be summoned by the Gujarat CID Crime Branch in connection with a ₹450 crore ponzi scheme. According to an Ahmedabad Mirror report, the cricketers are believed to have invested in fraudulent schemes operated by Bhupendrasinh Zala, the alleged mastermind behind the scam.
Bhupendrasinh Zala, a resident of Himmatnagar in Sabarkantha, is accused of defrauding over 11,000 investors through his company, BZ Financial Services. Between 2020 and 2024, Zala promised investors annual returns of up to 36%, initially delivering payouts to build trust before defaulting on payments. Zala used the funds to acquire assets worth ₹100 crore, including both movable and immovable properties, police said.
The investigation revealed that Shubman Gill, who captained the Gujarat Titans in the 2024 IPL season, reportedly invested ₹1.95 crore in the scheme. Sudharsan, Tewatia, and Mohit Sharma are said to have invested smaller amounts. The CID Crime Branch plans to summon the players once Gill, currently part of the Indian Test squad in Australia, is available.
Deputy Inspector General of Police (CID-Crime) Parikshita Rathod confirmed that Zala was arrested on December 27 from Mehsana district after being on the run for nearly a month. Seven others connected to the scam have also been arrested. Zala is in police custody until January 4 as investigations continue into his agents, methods, and assets.
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“We have identified around 10 individuals who invested more than ₹1 crore each,” said Rathod. “Further inquiries are underway to uncover the full scope of Zala’s operations and recover the funds.”
Zala is said to have operated 17 offices across Gujarat, collecting ₹450 crore from investors. He allegedly appointed agents on commission to lure individuals into the scheme. While small returns were initially paid to investors, larger sums remained unpaid.
CID officials stated that the cricketers would be summoned together at a later date. Meanwhile, the police continue their efforts to unravel the scam and bring justice to the defrauded investors.
As the investigation progresses, the involvement of prominent cricketers has added a high-profile dimension to the case, drawing attention to the risks of unregulated investment schemes.
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