All about the Shubman Gill INR 450-crore chit fund scam

In a recent development, four cricketers, including Shubman Gill, Mohit Sharma, Rahul Tewatia, and Sai Sudharsan, are reportedly involved in a financial controversy after losing an undisclosed sum of money they had invested in a chit fund. The four players, all of whom were part of the Gujarat Titans squad in the previous IPL season, are said to have been affected by a multi-crore chit fund scam. As per a report by Ahmedabad Mirror, the Gujarat CID Crime Branch will soon call the cricketers for questioning to gather more details about the situation. The investigation revolves around an alleged INR 450-crore chit fund scam, in which these cricketers are believed to have lost their investments. While the exact sum of their individual losses has not been disclosed, the incident has drawn significant attention due to the involvement of high-profile players.

The law enforcement authorities are expected to meet with the cricketers at a later date to get further clarification on their connection to the scam and to understand how they became entangled in the fraudulent scheme. The involvement of these well-known players in such a scandal has added a layer of complexity to the ongoing investigation. It also raises questions about the financial vigilance of public figures, particularly in the world of sports, where lucrative earnings often lead to high-profile investment decisions. The authorities are working to uncover the full extent of the scam and its impact on those involved.

The ongoing investigation into the multi-crore Ponzi scheme is reportedly focusing on Bhupendrasinh Zala, the alleged kingpin behind the fraudulent operation. Zala has confessed to not repaying the money invested by several individuals, including the four cricketers. These players—Shubman Gill, Mohit Sharma, Rahul Tewatia, and Sai Sudharsan—are believed to have lost significant amounts in Zala’s BZ scheme.

According to top officials from the Gujarat CID, Shubman Gill, who captained Gujarat Titans last season, is said to have invested a substantial INR 1.95 crore in the scheme. In contrast, Mohit Sharma, Rahul Tewatia, and Sai Sudharsan reportedly made smaller investments. CID personnel have confirmed that the cricketers will be called in for questioning to provide further details about their involvement in the scam, although the exact dates for the questioning have not yet been disclosed. The case has drawn considerable attention due to the involvement of high-profile cricketers, raising concerns about the financial decisions made by public figures. As the investigation progresses, the authorities aim to uncover the full scope of the scam and the extent to which these players were affected.

"If Mehta is found to be involved, appropriate action will be taken. We have also deployed a team of accountants to examine bank transactions and an unofficial account book maintained by Zala. The unofficial book has been seized, and raids are continuing at various locations since Monday," stated a senior CID official, as quoted by the same publication.

"Zala also maintained an unofficial account book, which has been seized by the CID crime unit. The transactions recorded in that book amount to around Rs. 52 crore. Based on current investigations, we estimate the total amount to be around Rs. 450 crore, and it may increase as raids continue," added the same official.

The ongoing investigation into the multi-crore Ponzi scheme is reportedly focusing on Bhupendrasinh Zala, the alleged kingpin behind the fraudulent operation. Zala has confessed to not repaying the money invested by several individuals, including the four cricketers. These players—Shubman Gill, Mohit Sharma, Rahul Tewatia, and Sai Sudharsan—are believed to have lost significant amounts in Zala’s BZ scheme.

According to top officials from the Gujarat CID, Shubman Gill, who captained Gujarat Titans last season, is said to have invested a substantial INR 1.95 crore in the scheme. In contrast, Mohit Sharma, Rahul Tewatia, and Sai Sudharsan reportedly made smaller investments. CID personnel have confirmed that the cricketers will be called in for questioning to provide further details about their involvement in the scam, although the exact dates for the questioning have not yet been disclosed. The case has drawn considerable attention due to the involvement of high-profile cricketers, raising concerns about the financial decisions made by public figures. As the investigation progresses, the authorities aim to uncover the full scope of the scam and the extent to which these players were affected.