Former PCB chairmen Ijaz Butt and Khalid Mehmood, ex-players Aamir Sohail and Sarfraz Ahmed along with politician Kamil Ali Agha had been told to apologize to the PCB and executive committee chairman Najam Sethi.
A PCB statement said the five "have maliciously and falsely accused Najam Sethi of working with (chief selector) Moin Khan to fix matches and bet on them."
The PCB has given the five men two weeks to apologize or a defamation suit for rupees 100 million ($10 million) will be instituted against each one.
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