Vadodara: BZ Financial Office Shut Amid ₹6,000 Crore Scam Allegations

Vadodara CID Crime Raids BZ Financial Office

In a shocking turn of events, the Vadodara branch of BZ Financial Services, located in Lotus Aura Complex, Sama Savli Road, was raided by the CID Crime team on Tuesday. The raid was part of an investigation into a massive ₹6,000 crore scam involving fraudulent investment schemes. The office was found closed following the raid, leaving traders in the area surprised and uninformed about the scam.

₹6,000 Crore Scam: High Returns Promised

BZ Financial allegedly lured investors by promising to double fixed deposits in three years and offering an attractive monthly interest rate of 7%. The scheme created a network of agents to attract unsuspecting investors, collecting a staggering ₹6,000 crore.

Key Evidence Seized

The CID Crime team uncovered significant documents during the raids. Two bank accounts linked to the company revealed transactions amounting to ₹175 crore. Investigations have begun based on these findings.

Offices Raided Across Gujarat and Rajasthan

The scam had a vast network across Gujarat and Rajasthan. Offices in districts such as Talod, Himmatnagar, Vijapur, Modasa, Gandhinagar, and Aravalli were targeted in simultaneous raids by seven teams of over 50 officers. In Rajasthan, local authorities have been informed to coordinate further investigations.

Local Traders Speak Out

According to local trader Haresh Patel, the Lotus Aura Complex office appeared unassuming. He remarked, “One person would come daily, open the office, and have tea. We had no clue about a ₹6,000 crore scam.”

Scam Operations and Agent Network

The company set up offices in urban and rural areas, managed by agents under the leadership of Bhupendrasinh Parbatsinh Zala, CEO of BZ Financial Services. Agents convinced people with lucrative investment offers, which outmatched returns from nationalized banks and financial institutions.

Investigation Underway

The CID Crime team continues its investigation, with questioning underway for staff and agents involved. Offices outside the initial raid locations are also being tracked. The trail points to a well-organized operation designed to defraud thousands of investors.

This unfolding scam raises concerns about unregulated financial operations and highlights the importance of investor caution in such schemes.