Cricketer Shubman Gill to be summoned in Rs 450 cr Ponzi scam case
By MYBRANDBOOK
Leading Indian cricketer Shubman Gill is among four Gujarat Titans players who could be summoned by the Gujarat CID Crime Branch as part of an investigation into a Rs 450 crore Ponzi scheme. The other players potentially linked to the case are Sai Sudharsan, Rahul Tewatia, and Mohit Sharma. Gill, who captained the Gujarat Titans during IPL 2024, had invested Rs 1.95 crore in the scheme.
The development follows the interrogation of Bhupendrasinh Zala, the alleged mastermind behind the Ponzi scheme. During questioning, Zala reportedly admitted to not returning the investments made by these cricketers.
Gill is currently in Australia as part of the Indian Test squad, and so the summons for the players will reportedly be issued at a later date. Other cricketers Mohit Sharma, Rahul Tewatia, and B Sai Sudharsan are also said to have invested smaller amounts.
The ponzi scheme operator Bhupendrasinh Zala hails from Himmatnagar town in Sabarkantha, Gujarat. He is said to have collected Rs 450 crore from over 11,000 investors through his entity, BZ Financial Services, between 2020 and 2024. Zala lured investors with promises of exceptionally high annual returns of 36 per cent, initially fulfilling these promises to gain their trust before defaulting.
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