The news of a huge fraud involving all the star cricketers of Pakistan like Babar Azam, Shaheen Afridi and Mohammad Rizwan of approximately Rs 100 crore (Pakistani Rupees) came to light. Pakistan Cricket Board (PCB) has started investigating the matter. Actually, all the cricketers of the neighboring country became victims of a fraudulent scheme. The name of this scheme was said to be ‘Ponzi Scheme’.

It was told in media reports that Pakistan’s star players had invested money in the scheme of a businessman associated with Pakistan Super League (PSL). It was told that the players were getting returns under the scheme, but suddenly the returns stopped. According to reports, Pakistani players had invested their own money as well as that of their close ones and relatives in the scheme.

Businessman fled the country

When players stopped getting returns under the scheme, the cricketers tried to contact the businessman. In response, the players were told that they would no longer receive money. After this the businessman stopped responding to calls and messages. The matter was not limited to just not responding, but it was said that the businessman also fled the country. Apart from this, the businessman also claimed that he has suffered loss in his business.

amount of 100 crores

It was told that the amount invested in the scheme reached about Rs 100 crore. Let us tell you that the names of star players like all-rounder Shadab Khan and Fakhar Zaman were also included in the list of players who became victims of fraud.

What is Ponzi scheme?

It is noteworthy that Ponzi scheme is a fraudulent scheme. In this scheme, people do not invest their money due to greed but instead get trapped because no return is given in it, rather the money of new investors is given to the old investors. This is how this fake and fraud scheme is run.