Himatnagar: In a major development in the ₹450 crore BZ ponzi scheme case, the Sub-Divisional Magistrate (SDM) of Himatnagar has ordered the seizure of properties linked to Bhupendrasinh Zala, the alleged mastermind of the scam. The action follows a CID investigation and report submitted to the state government, confirming large-scale financial irregularities under the guise of high-return investment schemes.

Zala, hailing from a small village in Himatnagar taluka, launched the BZ scheme in November last year with ambitions of making fast money and gaining political influence. Luring agents and investors from Sabarkantha, Aravalli, Gandhinagar, Saurashtra, and Central Gujarat with hefty commissions and gifts, the scheme collected over ₹450 crore in deposits. When promised returns and interest failed to materialize, multiple complaints reached the CID in Gandhinagar. Following a series of statements and verification of documents from investors, CID filed formal charges against Zala and his associates.

On Wednesday, the competent authority and SDM’s office ordered the legal seizure of Zala’s assets. The move raises hopes for affected investors to recover their funds. Authorities involved in the seizure process include deputy collectors and mamlatdars from Modasa, Mansa, Himatnagar, Talod, Malpur, and city survey officials. Assets held under names like BZ Financial Services, BZ International Broking, BZ Traders, and BZ Profit Plus Advertising across Gujarat and other states will also be liable for seizure under this order. DeshGujarat