Pearls Group Ponzi scam: Yuvraj, Harbahjan might face heat


The probe involving Pearls Group, which is in trouble after its managing Nirmal Singh Bhangoo and three others were arrested by the CBI on January 9 in a Rs 45,000 crore Ponzi scam, may net ace cricketers Yuvraj Singh and Harbhajan Singh.

The two cricketers could well be in some sort of trouble as the CBI is reportedly preparing a list of cricketers and film personalities who received gifts from the Pearls Group.

Media reports said that Yuvraj and Harbahajan received plots in Mohali, Punjab. The plots are now likely to be seized by CBI and the Enforcement Directorate (ED).

Bhangoo has been accused of duping unsuspecting investors, and he is being quizzed by the CBI.

The company reportedly asked people to buy plots and promised them that the plots would be sold at twice the price at which they would buy them. But the company would reportedly sell such plots to multiple customers.

Yuvraj and Harbhajan reportedly received plots in Mohali as gifts from the Pearls Group, which also signed former Australia pacer Brett Lee as its brand ambassador to promote its interests in Australia.

Pearls Group has been a co-sponsor of IPL team Kings XI Punjab, which is based in Mohali. It had also sponsored the India-West Indies ODI series in 2011.

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