Rs 450 crore chit fund scam: Shubman Gill among 4 Gujarat Titans players likely to be summoned by CID 

India international cricketer Shubman Gill is among four Gujarat Titans players expected to be summoned by the Gujarat CID crime branch in connection with a Rs 450 crore ponzi scam, according to reports. In addition to Gill, the other cricketers likely to be questioned are Sai Sudharsan, Rahul Tewatia and Mohit Sharma. 

The development follows the interrogation of Bhupendrasinh Zala, the alleged mastermind behind the Ponzi scheme, as per a report by Ahmedabad Mirror. Zala reportedly admitted during questioning that he had failed to return the investments made by the cricketers involved. 

Zala, who has been accused of orchestrating a Rs 450 crore chit-fund scam, is widely regarded as “kingpin” of the Ponzi operation. He opened offices in several districts across Gujarat, including Talod, Himmatnagar and Vadodara, and enlisted agents to gather funds from investors. Zala is said to have collected Rs 6,000 crore in financial transactions through ICICI and IFC banks, totaling Rs 175 crore. 

Reports suggest that Gill, who captained Gujarat Titans in the 2024 IPL, invested Rs 1.95 crore in the scheme, while Mohit Sharma, Tewatia and Sudharsan made smaller contributions. Since Gill is currently part of India’s Test squad in Australia, the CID plans to summon all the players at a later date. Attempts to reach Mohit Sharma for comment have been unsuccessful. 

According to Deputy Inspector General of Police (CID-Crime) Parikshita Rathod, Zala used his company, BZ Financial Services, to collect money from investors by promising them high returns. Zala was on the run for nearly a month before being arrested in Mehsana district on December 27. He is currently in custody until January 4. 

Rathod further revealed that Zala used the funds to acquire assets worth Rs 100 crore, both movable and immovable, but failed to repay the investors as promised. Seven others have also been arrested in connection with the case. The CID claims Zala had promised investors an annual return of 36 percent. 

Gujarat CID officials have stated that the players’ cooperation will be crucial in the ongoing investigation, and further developments are expected as the case progresses.