The Security and Exchange Commission of Pakistan has issued a warning to the general public regarding investing in fake investment companies and Ponzi schemes. The Twitter page of SECP, on Tuesday, posted that the general public should be aware of investing with companies offering attractive and unreal profits.
“SECP has become aware that some companies, including B H Online job (SMC private) Limited, Corporate Automobiles (Private) Limited, and Best Day Innovative Solution (Private) Limited, are involved in illegal and suspicious business activities,” said the tweet, adding that these companies are offering people to invest in cars, motorcycles and leasing/financing schemes of housing.
“It should be noted that such activities from these companies are illegal and prohibited. SECP has begun legal proceedings to shut down these three companies,” said the Twitter page of SECP.