Mumbai: Team India batter Shubman Gill is among four Gujarat Titans cricketers who could be summoned by Gujarat CID Crime Branch in connections with a probe into a Rs 450-crore Ponzi scheme.
Sai Sudharsan, Rahul Tewatia and Mohit Sharma are the other three players linked to the case, according to a report in the Ahmedabad Mirror.
Bhupendrasinh Zala, the alleged mastermind behind the Ponzi scheme, reportedly admitted during questioning that investments made by these cricketers have not been returned. He was arrested by police in Gujarat’s Mehsana district on December 27, and is currently in custody until January 4.
Gill, who led Gujarat Titans in IPL 2024, had reportedly invested Rs 1.95 crore in the scheme. His three Gujarat Titans teammates Mohit, Tewatia, and Sudharsan are said to have invested smaller amounts.
The summons for the cricketers are likely to be issued later as Gill is part of the Indian squad taking on Australia in the ongoing Border-Gavaskar Trophy Down Under.
None of the four cricketers has responded to the report.
Who is Bhupendrasinh Zala?
Zala, who hails from Himmatnagar town in Gujarat’s Sabarkantha, is said to have collected Rs 450 crore from around 11,000 investors through BZ Financial Services, between 2020 and 2024.
As per the report, Zala lured investors with promises of staggering annual returns of 36 per cent. The promise was initially fulfilled before defaulting.
He appointed agents on a commission basis to attract investors. There were several individuals like Gill who invested over Rs 1 crore. The funds to purchase movable and immovable assets worth Rs 100 crore.
Zala apart, seven others linked to the scam have been arrested.
