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Beware of Investing in Fraudulent Schemes: SECP
Islamabad, March 16, 2021 (PPI-OT): The Securities and Exchange Commission (SECP), to promote protection of investors and the public interest, regularly issues warnings and alerts, guiding the general public to refrain from investing in fraudulent investment schemes that promise hefty profits and unrealistic returns.
As clearly covered in Section 84 of the Companies Act, 2017, inviting and accepting deposits from the public is a prohibited activity, and can only be offered by specialized companies duly authorized by the SECP or SBP.
In view of various complaints and queries received by the SECP concerning an entity “All Pakistan Projects”, it has emerged that the entity is offering lucrative investment packages through its website (https://allpakistanprojects.com/). The general public is being informed that “All Pakistan Projects” is not registered with the SECP. However, it has been noted that few individuals, whose names ar