7 months ago
Pakistan Cricketers Fall Victim to Ponzi Scheme
Some famous Pakistani cricket players, like Babar Azam and Mohammad Rizwan, invested a lot of money with a businessman.
At first, the businessman gave them profits, but then he said he lost all the money and left the country.
Now, the players might lose over 1 billion rupees.
The Pakistan Cricket Board is looking into this problem.
The players also invested money from their family and friends, so many people are affected.
The businessman was known to the players and had even sponsored some cricket teams.
Several top Pakistan cricketers, including Babar Azam, Mohammad Rizwan, and Shaheen Shah Afridi, have allegedly fallen victim to a Ponzi scheme.
The businessman initially made profit payments but then claimed heavy losses and left the country.
The total amount invested by the cricketers and their associates could exceed 1 billion rupees.
The Pakistan Cricket Board is looking into the financial scam.
The players had invested not only their personal savings but also money belonging to relatives and close associates.
- Who
- Several top Pakistan cricketers, including Babar Azam, Mohammad Rizwan, and Shaheen Shah Afridi
- What
- Fell victim to a Ponzi scheme
- Where
- Pakistan
- When
- The exact timeline is not specified, but the scheme collapsed after several months of profit payments
- Why
- The businessman allegedly incurred heavy losses and left the country, leaving the players unable to recover their investments
Key facts
- Players Involved
- Babar Azam, Mohammad Rizwan, Shaheen Shah Afridi, Fakhar Zaman, Shadab Khan, and others
- Total Amount Invested
- Over 1 billion rupees
- Investment Duration
- Several months
- Businessman's Action
- Left the country after stopping payments
- PCB's Response
- Looking into the financial scam
Quotes
Source
An anonymous source with knowledge of the situation
“Initially the businessman who is well known to the players and has also been involved in sponsoring some franchises in the Pakistan Super League made profit payments to the players for the first few months but then stopped the profit payments.”
freepressjournal.in
“It was basically a Ponzi scheme which went bad. Now these players face the prospect of losing out on millions of rupees.”
freepressjournal.in
Sources
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