Shubman Gill, captain of the Gujarat Titans, and three teammates—Sai Sudharsan, Rahul Tewatia, and Mohit Sharma—face allegations of involvement in a ₹450 crore chit fund scam. The Gujarat Crime Investigation Department (CID) is probing their connections and plans to summon them for questioning.
Background of the Scam
Bhupendrasinh Zala, the alleged mastermind, used his company, BZ Financial Services, to run the Ponzi scheme. He promised investors high annual returns of up to 36%. Authorities claim Zala collected approximately ₹6,000 crore but failed to repay many of his investors, including the cricketers.
Police arrested Zala on December 27, 2024, after he evaded capture for nearly a month. He remains in custody until January 4, 2025. Investigators revealed that around 11,000 people fell victim to the scam. Among them, 10 individuals invested over ₹1 crore each.
BZ Financial Services gained trust by offering returns far higher than traditional banking rates. Many investors, including the cricketers, lost their funds after Zala defaulted on payments. The Gujarat CID has already detained seven individuals connected to the case.
Cricketers’ Involvement
Shubman Gill invested ₹1.95 crore in the scheme. Sai Sudharsan, Rahul Tewatia, and Mohit Sharma also made smaller investments, though their exact amounts remain undisclosed. Investigators aim to understand their interactions with Zala and the circumstances of their investments.
As Gill is currently in Australia for India’s Test series, the CID will coordinate questioning based on the players’ availability. Financial records, including Zala’s unofficial account book, show transactions worth around ₹52 crore and will play a key role in the investigation.
Implications and Future Steps
The case highlights the need for financial literacy among professional athletes. Their cooperation is vital for recovering funds and progressing the inquiry. The Gujarat CID continues to scrutinize financial documents and interview those involved, with further developments anticipated soon.
This scandal shows the risks of unverified investments and serves as a cautionary tale for public figures.
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