Team India’s star batter Shubman Gill summoned by CID in Rs 450 crore chit fund scam Crime Branch. Reports have surfaced of Gill’s involvement in a 450-crore chit-fund scam. Along with Gill, three other players from the Gujarat Titans have been issued summons. These include Sai Sudarshan, Mohit Sharma and Rahul Tewatia.
Why is Shubman Gill Summoned by CID?
According to reports, Shubman Gill invested Rs 1.95 crore in Bhupendrasinh Zala’s Ponzi scheme. This made him one of the larger investors among the cricketers involved. The others reportedly invested smaller amounts. Despite these claims, investigators are yet to find a direct link between Zala and Shubman Gill and other cricketers. As of now, Shubman is in Sydney with the Indian Team.
Officials have seized unofficial financial records during raids and are scrutinizing transactions linked to Zala’s companies. The key entities under suspicion include BZ Financial Services and BZ Traders.
Speaking to Ahmedabad Mirror, a CID official stated, “If Zala is found guilty, stringent action will follow. Teams are combing through his accounts to assess the scale of the fraud.”
Details of Zala’s Ponzi Scheme
Zala is a resident of Himmatnagar in Gujarat. He has allegedly scammed 11,000 investors with his Ponzi schemes. Reports claim that he has been doing this for four years now. He initially paid the customers but once the trust built, the payments stopped. He used the money to buy assets worth Rs. 100 crores for himself.
Zala operated through various entities like BZ Financial Services and BZ Traders. He attracted investors by promising exorbitant returns—up to 36% annually. After weeks on the run, Zala was arrested in Mehsana on December 27, 2024. He remains in custody until January 4, 2025.
Shubman Gill is currently in Australia and will likely feature in the Sydney Test. He will not be facing any immediate legal action. However, the Gujarat CID may later summon him after his national duty is fulfilled. Rumours about his unavailability for the Sydney Test did surface but they are all false as of now.
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