Pakistani Cricketers Fall Victim to Ponzi Scheme
Several prominent Pakistani cricketers, including Babar Azam, Mohammad Rizwan, and Shaheen Shah Afridi, have reportedly been ensnared in a Ponzi scheme that may result in significant financial losses, according to a source.
The Pakistan Cricket Board has been made aware of the situation and is said to be investigating the alleged financial fraud, the source revealed.
Reports suggest that a group of current players, such as Fakhar Zaman and Shadab Khan, as well as a former Test captain, invested substantial amounts of money with a Pakistani businessman who has since fled the country.
The businessman, known to the players for his involvement in sponsoring franchises in the Pakistan Super League, initially paid profits to the players for a few months before abruptly ceasing payments, citing heavy losses that included their investments and his own, the source disclosed.
Following the abrupt halt in payments, the players attempted to contact the businessman, only to find that he had vanished without a trace, leaving them with potentially massive financial losses.
Many of the cricketers not only invested their personal savings but also funds from relatives and associates, leading to a situation where they now face the risk of losing substantial sums of money.
Described as a Ponzi scheme gone awry, the total amount invested by the cricketers and their connections is estimated to exceed one billion rupees, underscoring the magnitude of the financial fallout.
