Be aware, SECP issues fraud alert

The Securities and Exchange Commission of Pakistan (SECP) warned the public on Wednesday not to invest in any fraudulent investment schemes that promise large profits and unrealistic incentives.

The Commission has repeatedly stated that simply registering a company does not authorise it to solicit deposits from the general public or to offer investment schemes. The SECP has discovered that a company, “Alliance in Motion Global (Private) Limited,” is offering various packages to attract the public to its illegal multi-level marketing (MLM) business activities, in violation of the memorandum of association. Raymond Asperin, Eduardo Cabantog, and Ahmad Muhammad are among the company’s directors.

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