ISLAMABAD (Kashmir English): The Securities and Exchange Commission of Pakistan (SECP) has warned the general public about an unauthorized investment and deposit-taking scheme being promoted aggressively on different social media sites by the 4D Group of Companies and its owner, Mr. Muhammad Asif. The scheme offers a return of 8% to 12% per month.
The SECP notifies the public that the 4D Group of Companies is not incorporated or registered with the SECP under the Companies Act, 2017.
In addition, it is not permitted to collect deposits from the public or sell any investment schemes. The 4D Group of Companies’ investment and deposit collection operations are unlawful and entail a high risk of financial loss to the public.
SECP strictly recommends the public not to invest or deposit money with the 4D Group of Companies or any such unregistered entity in any form or structure.
The issue has been referred to the concerned investigating agencies for necessary action against the people involved in such illegal businesses.
The public is also reminded that a company’s “Certificate of Incorporation” merely verifies its registration with the SECP, not that it has been empowered by the SECP to accept deposits or introduce investment schemes. The SECP advises the public to be cautious and check the validity of any investment opportunity through the official channels of the SECP.
Protection of the public and prevention of unauthorized investment schemes are among the highest priorities of the SECP, which goes on to keep such activities under surveillance and take necessary action whenever detected.
How to Report
The public can report suspected cases of fraudulent investment schemes by using the SECP’s Complaint Management System (https://xs.secp.gov.pk), by email at scams@secp.gov.pk, or through the SECP Toll-Free Helpline at 0800-88008.
