Several leading Pakistani cricketers, including former captain Babar Azam, wicketkeeper-batter Mohammad Rizwan, and pace ace Shaheen Shah Afridi, are reportedly among the victims of a massive financial scam that could see them lose millions of rupees, a source has revealed. What is a Ponzi scheme? A Ponzi scheme is a type of investment fraud in which returns are paid to earlier investors using the money from new investors rather than from actual profit. When new funds dry up, the scheme collapses, leaving many at a loss. The alleged fraud has caught the attention of the Pakistan Cricket Board, which is said to be investigating the matter, according to PTI.
As per the source, around a dozen current national players — including Fakhar Zaman, Shadab Khan, and others — along with a former Test captain, had invested significant sums with a Pakistani businessman who has now reportedly fled the country. “The businessman, who was well known to the players and had even sponsored some Pakistan Super League franchises, initially made profit payments to the investors for the first few months. But then the payments stopped,” the source said. When the cricketers sought answers, the businessman allegedly claimed that he had suffered major losses, including both their investments and his own, and was unable to return the money. Subsequently, he reportedly ceased all communication and left the country. According to the source, many players had invested not only their personal funds but also money belonging to family members and close associates. “It appears to have been a Ponzi scheme that collapsed. These players now face the prospect of losing millions of rupees,” the source added.