The Securities and Exchange Commission of Pakistan (SECP) on Saturday issued a stern warning to the public, cautioning against falling prey to fraudulent investment schemes.
The regulatory authority emphasised that individuals should exercise utmost vigilance and refrain from investing their hard-earned money in bogus or illegal schemes that could potentially lead to significant financial losses
Highlighting the grave consequences of engaging with fraudulent entities, the SECP emphasized that these fake investment schemes not only erode people’s valuable capital but also disrupt the overall financial landscape, affecting both individuals and the economy at large.
In a recent statement, the SECP clarified that registration with the commission is not a mandatory requirement for companies to gather funds from the public under the guise of investment opportunities.
The regulatory body has explicitly named two such entities, AA Enterprise and Investment, as well as Anees Ahmed Enterprise Pvt Ltd, for promoting counterfeit investment schemes. These companies have reportedly been misleading potential investors by falsely claiming to possess SECP registration.
“It has come to our attention that AA Enterprise and Investment, as well as Anees Ahmed Enterprise Pvt Ltd, are falsely portraying themselves as legitimate investment firms by using alleged registration from the SECP,” it added.
We want to make it abundantly clear that these entities are not authorized by the SECP and are engaging in activities that could lead to financial harm, “ the SECP stated.
