Shubman Gill and Three Other Gujarat Titans Players to be Summoned By Gujarat CID in a 450 Crore Chit-Fund Scam

According to reports, Team India Star cricketer Shubman Gill, often called the Prince of Indian Cricket, will be summoned by Gujarat CID along with three other Gujarat Titans players, Sai Sudharsan, Rahul Tewatia, Rahul Tewatia, and Mohit Sharma, for being related to a chit fund scam case.

All four players are reportedly victims of a nationwide scam. According to the Ahmedabad Mirror report, Ponzi scheme mastermind Bhupendrasinh Zala confessed to the Police that he took money from all these players and also confessed during interrogation that he had not returned even a single penny to them.

While Shubman Gill is in Australia with the Indian test team for the border Gavaskar trophy and other players are in India, the CID will summon them when they are available in the country. The report also mentioned that Gujarat Titans captain Shubman Gill invested Rs. 1.95 Crore while other cricketers' investments weren't as significant as this in the Ponzi scheme.

Rs. 450 crore scam: Another Ponzi Scheme

Bhupendrasinh Zala, a resident of Himmatnagar town in Sabarkantha, created this 450-crore game. It was reported that 11,000 investors invested their money, and the scam spread to 17 offices in multiple parts of the country. The investments were made between 2020 and 24.

Investigating Agency Statement

The Deputy Inspector General of Police (CID-Crime) Parikshita Rathod spoke to the media and said that Mastermind Zala lured investors with his Business Entity, BZ Financial Services, by promising high returns. After a one-month run, police finally caught him on December 27 in the Mehsana district. Rathod also mentioned that Zala bought assets worth Rs. 100 crore from the invested amount. The district court sent him to Judicial custody until January 4th. , The agency arrested seven more people.

"So far, we have learnt that nearly 11,000 individuals have invested in schemes floated by Zala's firm. Of these, around 10 individuals had invested more than Rs. one crore. Further investigation about his agents, modus operandi and assets is underway," Rathod said while talking to reporters.

CID also released a statement regarding the case

“Zala promised the investors a return of 36 per cent annually. His firms would initially pay investors the promised returns to win their trust before defaulting. He had also appointed agents on a commission basis to lure investors," a CID statement read.

In the last season, Gujarat Titans finished the group stage in 8th position. Sai Sudarshan, who is involved in the case, was the highest run-getter for Gujarat, scoring 527 runs in 12 innings at an average of 47.90. Subhman Gill, the captain, scored 426 runs in 12 innings. Mohit Sharma, who was also involved in the case, took 13 wickets.

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