The Securities and Exchange Commission of Pakistan has warned the public against investing in ‘FS Links (SMC-Private) Limited’.
It says the company has been “trying to trap innocent people through social media to invest in fake schemes”.
The SECP issued a statement on Wednesday stating that FS Links is involved in unlawful activities of raising unauthorised deposits from the public by offering hefty profits.
“FS Links is a Single Member Company and does not have any authorisation/license to solicit investments or deposits from public,” the statement read, adding that the act of deposit-taking is prohibited.
Legal proceedings have already been initiated against the company’s director, Faisal Hayat. SECP also initiated winding-up proceedings against the company under sections 304 and 301 of the Companies Act, 2017.