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Don’t invest in FS Links: SECP

SAMAA | - Posted: Oct 30, 2019 | Last Updated: 4 months ago
SAMAA |
Posted: Oct 30, 2019 | Last Updated: 4 months ago
Don’t invest in FS Links: SECP

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.

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