LAHORE – Investment opportunities bring high returns, but several bigwigs of Pakistani cricket fall prey to Ponzi scheme.
A report shared by local journo said top crickters like Babar Azam, Rizwan, and Shaheen Afridi met businessman who was known figure in PSL circles. But what seemed like golden opportunity is now turning into financial nightmare. Reports suggest that businessman put top players’ investment in limbo, sparking questions, fears, and a looming investigation by the Pakistan Cricket Board.
As per report, captain Babar Azam, wicketkeeper Rizwan, and pace spearhead Shaheen Afridi, could be facing massive financial losses after reportedly falling victim to an alleged Ponzi scheme.
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According to reports, a local businessman with strong ties to the players and PSL franchises allegedly vanished after failing to return investments. It is estimated that around dozen cricketers and their associates invested over Rs1 billion (100 crore) in the scheme.
Other prominent names said to be affected include Fakhar Zaman, Shadab Khan, and an unnamed former Test captain. The businessman reportedly gained the players’ trust by initially providing profits for a few months before abruptly stopping payments. When questioned, he claimed significant losses, ceased all communication, and is believed to have left the country. Many of the players reportedly invested not only their own money but also funds from relatives and close contacts.
Pakistan Cricket Board (PCB) is aware of the situation and is reportedly investigating the alleged financial fraud. On the other hand, cricketes told local media that thw company is still in contact with them and has promised to settle all payments by March.
The company owner is currently in UAE but remains in regular communication, reiterating that all payments will be cleared by March.
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