| Secp Alert Public Against Investing in Ponzi Schemes |
Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Tuesday warned the general public not to invest in fake investments and capital schemes that provide huge profits and unrealistic benefits to trap innocent people. Are promising
The SECP said it was learned from the regulator that companies, such as Messrs. BH Online Jobs (SMC Private) Limited, Corporate Automobile (Private) Limited and Best Day Innovative Solutions (Private) Limited are engaged in unauthorized and suspicious business activities.
The SECP has received numerous complaints that these companies are offering investment plans such as leasing / financing cars, motorcycles, houses and engaging in illegal banking business without legal authority.
These activities are prohibited and contrary to the objections of their Memorandum Association.
These companies entice people by offering high rate of return with low risk to investors.
They market their schemes through local newspapers, social media, websites and pamphlets and more.
The SECP has already initiated legal proceedings to consolidate these companies.
In addition, the SECP has also received numerous complaints and queries regarding B4U, an organization.
The company is collecting unauthorized reserves from the general public in the name of various investment projects.
It has been clarified that “B4U Trade” is not registered with the SECP.
The general public is careful about their own interests and is advised not to mislead them through such schemes.
This warning is being issued to protect the interests of all stakeholders, who are currently dealing with these businesses.
The SECP has repeatedly made it clear that just because a company is registered with it, does not necessarily mean that these companies are allowed to take illegal deposits from the general public.
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3 Comments
Is we invest in the B4U Global online business or not, kindly confirm me.
If SECP is not responsible for the investment in companies like that , then who will regulate and monitor these companies in national level. and secured the investment of individual, all regulatory authorities just see and chill.
Kindly guide if investment in Lasani Oil Traders (pvt) limited is safe and secure. They asking invrstors to deposit 350,000 Rs. And get 50 paisa per letter (diesel) profit on daily basis.? Their HO is at Lahore and sub offices in Rswalpindi, bahawalpur and karachi.
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