Yuvraj Singh's Mother Loses Rs 50 Lakhs In Fraud Scheme
Things are not quite going well for Indian cricket stalwart Yuvraj Singh. The World Cup-winner is not close to getting a recall from the Indian team. And now reports claim that his mother Shabnam Kaur has lost a huge amount of money in a large Ponzi (fraud) scheme.
As per media reports, Shabnam had invested a sum reported to be around Rs 1 crore. However, she could recover only half of it that is Rs 50 lakhs. Shabnam was one of the many investors who lost money in the scheme. Mumbai’s Enforcement Directorate team has already launched an investigation.
As per a Mumbai Mirror report, the officials have asked Kaur to submit the documents related to the transaction. The officials have also asked her to describe her purpose of investment.
The report further suggests that the scheme managers linked to a firm called Sadhna Enterprises had promised Yuvraj’s mother an 84% annual return on the investment. She even got back her Rs 50 lakh but the funds stopped flowing in after a few months. A complaint has been registered by the ED under the Prevention of Money Laundering Act. No arrests have been made so far in the case.
Meanwhile, Yuvraj Singh is currently playing for Punjab in the ongoing Vijay Hazare Trophy. The southpaw will be desperate to put up some good performances and get in the frame as early as possible for the 2019 World Cup which could well be his last swansong.
After being recalled to the ODI last year, he lost his place after a string of poor performances. His last appearance for India came during the tour of Caribbeans in 2017.
The legendary batsman, nonetheless, has has been in great form for Punjab in the Vijay Hazare Trophy. Earlier this week, he slammed 96 runs against Railways. Earlier in the tournament, he had scored 41 and 48 runs against Vidarbha and Himachal Pradesh respectively .
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