Yuvraj Singh & Harbhajan Singh linked to Ponzi scheme

Yuvraj-Singh-with-Harbhajan
Yuvraj Singh and Harbhajan Singh likely to be investigated by CBI & ED for being linked to Pearls Group . Image Source : dhakatimes24.com

Internet Desk : Cricketers Yuvraj Singh and Harbhajan Singh have been linked to the Ponzi scheme by the Pearls Group . Both cricketers along with film personalities will be investigated by the CBI & RD for being linked with the Pearls Group which is reportedly involved in a fraudulent investment scheme .

The CBI and the Enforcement Directorate (ED) are jointly  investing this alleged Ponzi scheme, which is said to be India’s largest. According to reports a staggering  Rs 45,000 crore was collected from over 5 crore investors.

Former Austrlalian fast bowler Brett Lee was made the brand ambassador of the  Group to enhance its business in Australia.

The group was the title sponsor in one of the IPL teams. It was one of the sponsors during the West Indies tour of India in 2011. It also invested in Pro-Kabbadi and Golf Premier League.

Pearls Group CMD Nirmal Singh Bhangoo and three top executives — Sukhdev Singh, MD and Promoter-Director of Pearls Agrotech Corporation Ltd (PACL); Gurmeet Singh, Executive Director (Finance) and Subrata Bhattacharya, Executive Director in the PGF/PACL — have been arrested, and were sent to CBI custody till 19 January by a metropolitan magistrate on Saturday.

According to a reports , both Yuvraj and Harbhajan were gifted plots by the Pearls Group. Brett Lee, too, received gifts from the company. The CBI and the ED are likely to retrieve these plots from the two Indian cricketers.