Delhi: Several high-profile individuals, including cricketers and a Bollywood actor, have emerged as victims of the alleged Ponzi scheme run by Gujarat-based BZ Finance Group, according to reports. The scheme, operated under the name “Ek Ka Do,” reportedly defrauded cricketers Shubman Gill, Rahul Tewatia, Mohit Sharma, and Sai Sundar, among others, of amounts ranging from ₹10 lakh to ₹1 crore, the report mentioned.
The Crime Investigation Department (CID) is currently analyzing data to identify other investors who fell prey to the fraudulent scheme. Actor Sonu Sood’s name surfaced as he had attended an event organized by the scheme’s operators. However, there is no evidence yet linking him as an investor.
Cricketers Admit Investment in Fraudulent Scheme
According to CID Crime sources, five cricketers have admitted to investing in the Ponzi scheme. However, CID Chief Dr. S. Rajkumar Pandian has refrained from commenting on the matter.
The mastermind behind the scheme, Bhupendra Singh Zala, allegedly established over a dozen companies, including BZ Finance, to operate the fraud. Acting as the group’s CEO, he orchestrated a large-scale financial scam that accumulated approximately ₹6,000 crore since 2016.
Modus Operandi
Zala lured investors with promises of lucrative returns and extravagant incentives. For a ₹5 lakh investment, investors received items like a 32-inch TV or a mobile phone. Those investing ₹10 lakh were offered a trip to Goa. Additionally, he promised 7% interest on fixed deposits in writing and up to 18% orally. To attract agents, the scheme offered expensive gifts.
Investigation Unveils Scale of Fraud
The CID registered a case in Gandhinagar and commenced an investigation, suspecting that the scheme gathered over ₹6,000 crore through various fraudulent investment plans. Approximately 14,000 individuals are believed to have invested in the scheme.
Zala operated primarily out of North Gujarat but expanded his network across Rajasthan and other parts of the country. His promise of high returns in a short span lured thousands into his trap.
Police Action and Future Developments
The investigation began after the police received an anonymous complaint. In the coming days, more victims may come forward if investors do not receive their promised returns. The CID is working to uncover the full extent of the fraud and recover the swindled funds.
