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Don’t invest in the fake ‘Fine Sarmayakari Company’, warns the SECP

The company has been trying to trap citizens through social media to invest in fake schemes

SAMAA | - Posted: Jan 9, 2019 | Last Updated: 2 years ago
SAMAA |
Posted: Jan 9, 2019 | Last Updated: 2 years ago
Don’t invest in the fake ‘Fine Sarmayakari Company’, warns the SECP

The company has been trying to trap citizens through social media to invest in fake schemes

The Securities and Exchange Commission of Pakistan (SECP) warned the public on Wednesday against investing in a fake entity, the ‘Fine Sarmayakari Company’.

The company has been trying to trap citizens through social media to invest in fake schemes.

Related: IT, tourism Pakistan’s top sectors as SECP registers 1,130 new companies

According to the SECP, an unidentified person is placing advertisements in different newspapers under the company’s name. The person is trying to collect deposits from the public by offering various investment schemes.

The SECP clarified that this company is not registered with the commission. It said that raising unauthorised deposits from the public by offering multi-level marketing and Ponzi schemes, directly or indirectly, is unlawful.

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