Ponzi Scheme Pakistan cricket team: Money looted in the name of double! Half of Pakistani team including Babar Azam, Mohammad Rizwan cheated by one billion

Karachi: Many of Pakistan’s top cricketers, including former captain Babar Azam, Mohammad Rizwan and fast bowling leader Shaheen Shah Afridi, have reportedly become victims of a ‘Ponzi scheme’ in which they may lose crores of rupees. A source gave this information. Sources say that this matter has come to the notice of Pakistan Cricket Board (PCB) and the board is investigating this alleged financial scam.

Businessman ran away from Pakistan
According to the source, about a dozen current players (which include Fakhar Zaman, Shadab Khan and others) along with a former Test captain had also invested a huge amount of money with a Pakistani businessman and now this businessman has left the country. The source said:

The businessman has also been associated with sponsoring some franchises of the Pakistan Super League and initially paid profits to the players for the first few months but later stopped the payments.

stopped even picking up the phone
When the affected players contacted him, the businessman reportedly claimed that he had suffered huge losses, including the players’ investment money and his own capital, adding that he was not in a position to return the money. “After this he stopped responding to phone calls and messages and left the country,” the source said.

more than one billion rupees lost
Many players had invested not only their personal savings but also the money of relatives and close associates in it. “It was basically a ‘Ponzi scheme’ (pyramid sales scheme) which started incurring losses,” the source said. Now these players are in danger of losing crores of rupees. According to the source, the total amount invested by the cricketers and their associates could be more than one billion rupees.