Pakistani cricket stars linked to controversial investment scheme

Recent media reports suggested that current and former Pakistani cricketers may have lost millions of rupees in a foreign-based investment scheme, a private news channel reported on Friday.

However, several players have come forward to clarify that they have not experienced any fraud. According to the players, the speculation arose after a small number of cheques issued by the company in question bounced.

“The company remains in contact with us and has assured that all pending payments will be cleared by March,” they said. One investor reportedly contributed Rs 40 million and recently received 200,000 dirhams in returns.

The Pakistan Cricket Board (PCB) has been briefed on the matter. Players told PCB Chairman Mohsin Naqvi that there is currently no serious issue and that they will report any problems if they arise.

The owner of the investment company, based in Dubai, has also issued a statement denying allegations of fraud. He confirmed that formal agreements exist with the cricketers and that all investors hold guarantee cheques. He noted that he has never been to the United States, contrary to reports claiming the company was US-based.

Earlier media coverage suggested high-profile losses, including claims involving an ex-captain and an agent, after players followed a peer into the investment. No formal complaints have been filed to date.

While the situation has attracted significant attention, both players and the company insist the matter is being handled transparently and payments are on schedule, dispelling initial fears of a multimillion-rupee scam.