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.
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.