Indian cricketer Yuvraj Sing’s mother Shabnam Singh lost a whopping sum to the tune of Rs 50 lakh, an investment which she did in Ponzi scheme. It is learnt that Shabnam invested a sum of Rs 1 crore but could only recover half the amount. Meanwhile, the Enforcement Directorate’s Mumbai team has launched an investigation and is learnt that many other investors like Shabnam have lost their share.
As per reports, the scheme managers have pooled the money to a firm Sadhna Enterprises and promised Shabnam a return of 84 percent on the investment. Though she received half the amount, the remaining amount stopped coming in after few months, following which she approached the police officials. The investigation is underway, and so far, no arrest has been made.
Previously, in a similar case, Rahul Dravid and Saina Nehwal have lost Rs 15 crore and 75 lakhs each after investing in a fraudulent scheme.