Last Updated on 2 months ago by Charbel Coorey

Several Pakistan cricketers, including top-order batter Babar Azam, wicketkeeper Muhammad Rizwan, and fast bowler Shaheen Shah Afridi, have reportedly found themselves at the receiving end of a Ponzi scheme. The total amount invested is believed to exceed PKR 1 billion.

According to PTI and Economic Times, sources close to the matter indicate that close to a dozen Pakistani cricketers, including top-order batter Fakhar Zaman, spin-bowling all-rounder Shadab Khan, and a former Test skipper, allegedly invested huge sums of money with a Pakistani business.

Pakistan players at the centre of ponzi scheme

The business in question has previously sponsored franchises in the Pakistan Super League (PSL) and is believed to have left the country. The business allegedly made regular payments to the cricketers initially, but the payments soon dried up, raising the eyebrows of the investors.

After a player approached the business, he claimed that he had suffered hefty losses and, hence, was unable to return the invested money. Several players are believed to have invested not only their money but also the funds of their relatives and close ones. The source noted that the cricketers had invested in a Ponzi scheme that ultimately collapsed.

The Pakistan Cricket Board (PCB) has reportedly been apprised of the matter, and an investigation is believed to be underway to track the circumstances leading to the investment fraud.

“The matter has come to the notice of the Pakistan Cricket Board which is understood to be looking into the financial scam,” wrote journalist Saj Sadiq on X (formerly Twitter).

“According to the report, around a dozen current players – also including Fakhar Zaman, Shadab Khan and others had allegedly invested large sums with a Pakistani businessman who has now left the country.”