BZ scam: How Bhupendrasinh Zala built empire worth crores in four years

Updated: Dec 2nd, 2024


Duping investors by promising them high returns, Bhupendrasinh Zala, the main accused in the BZ financial scam, traded in crores with money from small investors, all of it in just four years. During this time, he became a businessman with influence, and possessor of multiple assets.

Attracting thousands of small investors with the promise of massive returns on their investments, Zala used his proximity with top leaders of the BJP to build trust among people.

He even made teachers of Sabarkantha agents for his Ponzi scheme, setting up an entire network. Using this network, investors poured in crores of rupees.

Zala started one company after another using the money of small investors. Initially, he started BZ International Broking and a finance company, gaining the trust of investors.

He also ventured into education by opening BZ Sanskar School and the Global Education Campus. In addition, he opened a showroom for BZ Electronics, where investors and agents were rewarded with gifts such as smart TVs and refrigerators.

What is the BZ scam?

Zala promised ₹3,000 per month for an investment of ₹1 lakh while in a fixed deposit scheme, a return of ₹2,50,000 per year was promised on the principal amount of ₹1,00,000. Millions of middle-class investors were lured by this tempting offer and invested lakhs and crores.

He opened offices at various locations and activated agents in Talod, Ransan, Himmatnagar, Vijapur, Modasa, Malpur in Aravalli, Gandhinagar, and Vadodara districts to collect money from investors.


Also read :

Bhupendrasinh Zala invested money from BZ scam into crypto and bitcoins, CID probe finds



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