Shubman Gill among 4 Gujarat Titans players likely to be summoned for Rs 450 crore chit fund scam

Indian cricketer Shubman Gill, along with three of his Gujarat Titans teammates, could be summoned by the Gujarat CID Crime Branch as part of an investigation into a massive Rs 450 crore Ponzi scheme. According to a report by the Ahmedabad Mirror, the other players implicated are Sai Sudharsan, Rahul Tewatia, and Mohit Sharma.  

The inquiry stems from the interrogation of Bhupendrasinh Zala, the alleged kingpin of the Ponzi operation, who reportedly confessed to failing to return investments made by these players. Zala, accused of orchestrating the multi-crore chit-fund scam, had set up offices in various Gujarat districts, including Talod, Himmatnagar, and Vadodara, to lure investors with promises of exorbitant returns.  

Gill, who captained the Gujarat Titans during the 2024 IPL season, reportedly invested Rs 1.95 crore in the scheme. His teammates Sharma, Tewatia, and Sudharsan are said to have made smaller investments. With Gill currently in Australia as part of India’s Test squad, the CID plans to summon all four players at a later date.  

According to Deputy Inspector General of Police (CID-Crime) Parikshita Rathod, Zala collected funds through his firm, BZ Financial Services, offering investors an annual return of 36%. Despite accumulating Rs 6,000 crore in financial transactions through ICICI and IFC banks, Zala allegedly defaulted on repayments, diverting Rs 100 crore into movable and immovable assets.  

Zala, arrested on December 27 after a month on the run, is in CID custody until January 4. Seven other individuals have also been detained in connection with the scheme. Rathod emphasized that the cooperation of the cricketers is vital to the ongoing investigation, and more details are likely to emerge as the case unfolds.