ISLAMABAD: Several prominent Pakistani cricketers, including currentnational team members and a former captain, Babar Azam, Shaheen Shah Afridiand Mohammad Rizwan have reportedly incurred massive financial lossesamounting to billions of rupees in a sophisticated investment fraud.Sources indicate that around a dozen players were lured into the schemepromising high returns, only to face a complete halt in payments and thedisappearance of the key suspect. The scam has drawn attention tovulnerabilities even among high-profile athletes in financial dealings,with the Pakistan Cricket Board stepping in to provide support amid growingconcerns over the players’ wellbeing.
The fraud allegedly operated as a classic Ponzi scheme, where initialinvestors received attractive returns funded by new contributions ratherthan genuine profits. Reports suggest the businessman, previouslyassociated with Pakistan Super League franchise sponsorships, built trustthrough personal connections with the cricketers. Early payouts encouragedfurther investments from players and their associates, creating an illusionof legitimacy before the scheme collapsed.
Eight current national team players are said to have lost approximatelyRs880 million collectively, while one former international cricketerreportedly suffered losses nearing Rs900 million. The total amountinvolved, including funds from relatives and close associates of thevictims, is estimated to exceed one billion rupees. This substantial figureunderscores the scale of the deception and its potential impact on theplayers’ financial security.
The accused businessman, believed to have close ties with several players,persuaded them by highlighting the participation of a former national teamcaptain in the venture. Some cricketers handed over funds directly to him,drawn by the promise of lucrative gains in what was presented as a secureopportunity. Initial returns were substantial, fostering confidence andprompting larger commitments from the victims over time.
Approximately two months ago, all payments ceased abruptly, leaving theinvestors in distress. When approached, the suspect claimed heavy losseshad wiped out both his and their capital, rendering recovery impossible.Soon after, he vanished from Pakistan, with sources indicating he relocatedto the United States. Efforts to contact him have failed, as his phoneremains switched off and unreachable.
Despite the enormity of the losses, no formal complaints have been lodgedwith law enforcement authorities so far. The matter has not been officiallyescalated to the Pakistan Cricket Board in a formal capacity either.However, PCB Chairman Mohsin Naqvi has reportedly assured the affectedplayers of full support and cooperation in addressing the issue, signalinginstitutional concern over the welfare of national team members.
The incident highlights broader risks associated with informal high-returninvestment opportunities, particularly those relying on personal trustrather than regulated channels. Cricketers, often targeted due to theirsubstantial earnings from international and league cricket, may lackadequate financial advisory safeguards. This case echoes previous financialcontroversies in sports but stands out for its scale involving activenational players.
Media reports, citing anonymous sources close to the players, describe thescheme’s progression from promising early profits to sudden collapse. Thebusinessman’s prior involvement in cricket-related sponsorships lentcredibility, making it easier to attract investments. Many victims investednot only personal savings but also funds from family members, amplifyingthe personal toll of the fraud.
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As investigations remain informal at this stage, questions arise aboutpotential recovery mechanisms and preventive measures. The Pakistan CricketBoard is understood to be looking into the matter discreetly, possibly toavoid public embarrassment while assisting the players. Legal expertssuggest that without formal FIRs, pursuing the suspect internationallycould prove challenging, especially given his reported US base.
This scandal arrives at a time when Pakistani cricket seeks stability onand off the field. The financial hit to key players could indirectly affectteam morale and focus ahead of upcoming international commitments. It alsoprompts reflection on financial literacy among athletes, who often faceunique pressures from sudden wealth and public scrutiny.
The absence of official police involvement so far may stem from players’reluctance to publicize the issue, fearing reputational damage. Yet, thePCB’s assurance offers a pathway for guidance and possible mediation.Stakeholders hope swift action prevents similar incidents, protecting thesport’s integrity and participants’ interests.
In summary, the alleged fraud serves as a stark reminder of investmentrisks in unregulated spaces. With billions potentially lost and a suspectabroad, the episode underscores the need for vigilance and professionalfinancial counsel in high-earning professions like professional cricket.
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