A major financial scandal has rocked the cricket world as Indian star Shubman Gill and three of his Gujarat Titans teammates are reportedly linked to a Rs 450 crore Ponzi scheme. The Gujarat CID Crime Branch is set to question the players, with Sai Sudharsan, Rahul Tewatia, and Mohit Sharma also under scrutiny. The shocking revelation has drawn attention to the intersection of sports and financial mismanagement, leaving fans and authorities eager for answers.
Cricketers’ Investments in the Scheme
The Ponzi scheme, run by Bhupendrasinh Zala, promised high returns and attracted investments from well-known cricketers. Shubman Gill, who led Gujarat Titans during IPL 2024, reportedly invested Rs 1.95 crore. His teammates Sai Sudharsan, Rahul Tewatia, and Mohit Sharma also put in smaller amounts.
Currently, Shubman Gill is in Australia as part of India’s Test squad, so the Gujarat CID plans to call the players for questioning at a later date. Efforts to reach Mohit Sharma for comments were unsuccessful.
The Man Behind the Scam
Bhupendrasinh Zala, the accused mastermind, operated the Ponzi scheme through his company, BZ Financial Services, between 2020 and 2024. Based in Himmatnagar, Gujarat, Zala lured over 11,000 investors by offering extremely high annual returns of 36%. Initially, he paid some returns to build trust, but eventually defaulted and used the money to acquire assets worth Rs 100 crore.
Arrest and Current Status
After evading authorities for nearly a month, Zala was arrested on December 27, 2024, in Mehsana, Gujarat. He is now in police custody until January 4, 2025. Seven others involved in the scheme have also been arrested. The Gujarat CID is now focused on recovering money for the victims and investigating how Zala ran the scam.
The Role of the Players
The involvement of cricketers like Shubman Gill has added another layer to the investigation. Their cooperation is expected to be crucial in uncovering the full extent of the scheme. Deputy Inspector General of Police (CID-Crime), Parikshita Rathod, said that the investigation will focus on the network of agents Zala used, the assets he acquired, and how the funds were misused.
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