SECP warns public about fraudulent “Fine Sarmayakari”

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ISLAMABAD,(NNI): The Securities and Exchange Commission of Pakistan has warned the public against investing in a fake entity, “Fine Sarmayakari Company”, which has been trying to trap innocent people through social media to invest in fake schemes.

It has come to the SECP’s knowledge that in the name of Fine Sarmayakari Company, an anonymous person is engaged in unauthorized and dubious activities by placing advertisements in different newspapers.

The SECP also clarified that this company is not registered with the SECP and that raising unauthorized deposits from the public by offering multi-level marketing, pyramid and Ponzi schemes, directly or indirectly, are unlawful and unauthorized business activities. NNI