Maybach, Volvo, Porsche Seized From BJP Politician Accused Of Running Ponzi Scheme [Video]

The Gujarat Crime Investigation Department recently arrested the mastermind of a Ponzi scheme who had been hiding from officials for the last month. Bhupendra Singh Jhala, the CEO of BZ Financial Services and BZ Group, who also happens to be a BJP politician, is the culprit and was arrested from a village in the Mehsana district of Gujarat. Bhupendra is accused of a ₹6,000 crore Ponzi scam. Along with this, the investigation agency has also seized the expensive cars owned by the accused.

CID IG Parikshita Rathore said, “Bhupendra Singh has been arrested at a farmhouse in Davda village in Mehsana. He had been hiding in the farmhouse of this village for the last 15 days. Bhupendra Singh’s interrogation has just started, so now we will get information about where he was hiding for more than a month and who helped him during this time. He was alone in the farmhouse when he was arrested.”

People who have invested in the scheme have been asked to come forward and register a complaint against BJP politician and BZ group CEO Bhupendra Singh in the Economic Offences Wing office of CID Crime. Before getting caught, Bhupendra approached the court for anticipatory bail, but it was denied.

Bhupendra Singh’s company approached people with schemes offering higher interest rates than banks, up to 3 percent interest per month. The CID team based out of Gandhinagar received complaints regarding the BZ Group cheating people by promising them higher returns.

After receiving the complaints, the Crime Investigation Department carried out raids in BZ Group offices located in Gandhinagar, Aravalli, Sabarkantha, Mehsana, and Vadodara. Not only did they raid the offices, but they also arrested more than 10 agents working for the firm. The BZ Group was offering attractive incentives to both investors and agents.

These incentives included international trips, 32-inch televisions, smartphones, trips to Goa, and much more. The agents were given cars as well. With the money collected from investors, Bhupendra was living a lavish life and had purchased expensive cars. These included a Maybach GLS600, Volvo XC90, Porsche Cayenne, and several others.

As part of the investigation, all these cars have been seized and are now parked at the Gandhinagar police station. All these cars, as seen in the video, are priced at over a crore. The Maybach GLS600 alone is priced at over ₹3 crore (ex-showroom). In the video, we also see other cars like Toyota Fortuner but, we are not sure if these cars belong to BJP politician Bhupendra Singh Jhala or not. Thousands of people had invested in the BZ Group’s Ponzi scheme, hoping for good returns.

Initially, when the investigation agency started the probe, they were unable to find or locate even a single investor ready to file an official complaint. However, this soon changed, and the agency was able to proceed with further investigations. B

hupendra Singh Jhala allegedly opened three companies: BZ International Broking Private Limited, BZ Traders, and BZ Financial. In addition, he has invested in several plots of land and educational institutions.

Bhupendra Singh Jhala will be produced in court, and the investigation agency will seek custody of the accused for further investigations into the ₹6,000 crore Ponzi scam case.