Four cricketers from Gujarat Titans are under scrutiny in connection with the Rs 450-crore Ponzi scheme run by the BZ Group, which is now being investigated by Gujarat’s CID Crime, sources told India Today TV. The identities of the cricketers have not yet been disclosed. The players allegedly invested in the controversial firm, raising concerns about their involvement and potential financial losses.

The investigation follows the questioning of Bhupendrasinh Zala, the alleged mastermind behind the scheme, who reportedly confessed during interrogation that he had failed to return the cricketers' investments. A Ponzi scheme is a fraudulent investment operation that promises high returns with little or no risk, paying returns to earlier investors using funds from new ones rather than legitimate profits.

Zala, a resident of Himmatnagar in Gujarat's Sabarkantha district, allegedly operated the Ponzi scheme through BZ Financial Services, collecting Rs 450 crore from over 11,000 investors between 2020 and 2024. He promised annual returns of 36 percent, initially fulfilling these promises to build trust before defaulting. Zala recruited agents on commission to attract investments, with some investors contributing over Rs 1 crore. He used the funds to acquire assets worth Rs 100 crore.

Zala evaded authorities for nearly a month before being arrested in Mehsana district on December 27, 2024. He remains in custody until January 4, 2025. Seven others have also been arrested, and investigators are working to recover funds by tracing Zala’s assets and questioning agents involved in the scheme.