Pakistan players including Babar, Shaheen defrauded in investment scam

Babar Azam, Shaheen Shah Afridi, Shadab Khan, Fakhar Zaman, and Mohammad Rizwan, among more than a dozen Pakistani players, have reportedly lost millions of rupees in an investment fraud. 

Pakistan players invest in a Ponzi scheme

The players are understood to have invested with a US-based Pakistani businessman in what turned out to be a Ponzi scheme. 

It is understood that none of the players has filed a complaint or reached out to the Pakistan Cricket Board (PCB) to seek help in resolving the matter. Over the past few weeks, cricketers have tried to recover their lost capital themselves, with a few of them receiving a partial refund. However, the businessman is now unreachable, and his phone is switched off. 

It is believed that the investors initially received returns for the first few months before the payments stopped. When the cricketers questioned the halt in payments, the accused individual claimed to have suffered a financial loss. 

The accused had connections with several players

While the exact figure is not known, the cricketers have lost millions of rupees, with some also having invested their acquaintances’ money.

Sources reveal that the accused businessman, who has also left the country following the alleged fraud, had connections within the cricketing circuit, including many current cricketers, player agents, and even had links to sponsors within the Pakistan Super League (PSL).

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