Several top Pakistani cricketers, including former captain Babar Azam, Mohammad Rizwan, and pace spearhead Shaheen Shah Afridi, are reportedly at risk of losing millions of rupees after falling victim to an alleged Ponzi scheme.
Reports indicate that a local businessman, who had connections with the players and sponsored PSL franchises, allegedly disappeared after failing to return investments.
Around a dozen players and their associates are estimated to have invested over one billion rupees (PKR 100 crore) in total.
Among the affected cricketers are Babar Azam, Mohammad Rizwan, Shaheen Shah Afridi, Fakhar Zaman, and Shadab Khan, in addition to a former Test captain who has not been named.
The businessman reportedly gained the players’ trust by initially providing profit payments for a few months before ceasing the payments.
When questioned, the businessman claimed significant losses, stopped communicating, and is reported to have left the country.
Many players invested not only their own funds but also money from relatives and close contacts.
The Pakistan Cricket Board (PCB) is aware of the situation and is reportedly looking into the alleged financial fraud.
Players’ Stance
On the other hand, the players contacted a local TV channel’s reporter in Islamabad, stating that they had invested in the company and that no fraud had been committed against them.
The players maintained the stance that the company is still in contact with them and has promised to clear all payments by March; they noted that only two checks have bounced so far.
The players further mentioned that the Chairman of the Cricket Board, Mohsin Naqvi, also contacted them regarding this matter. The players told Mohsin Naqvi that there is currently no issue, and they will inform him if anything happens.
They informed Chairman PCB Mohsin Naqvi that they have been assured of receiving their payments by March, and that the company owner is currently in Dubai and remains in regular contact with them
