{"id":454559,"date":"2025-01-10T09:23:35","date_gmt":"2025-01-10T04:23:35","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=454559"},"modified":"2025-01-10T09:23:42","modified_gmt":"2025-01-10T04:23:42","slug":"secp-alerts-public-against-a-fraudulent-investment-scheme","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/secp-alerts-public-against-a-fraudulent-investment-scheme\/","title":{"rendered":"SECP Alerts Public against a Fraudulent Investment Scheme"},"content":{"rendered":"<p> Islamabad<br \/>\nThe Securities and Exchange Commission of Pakistan (SECP) has identified another illegal deposit taking\/investment scheme being operated under the name of Summit 4X Trade and Summit AH Experts.<br \/>\nThe scheme\u2019s sponsors, Abdul Hai and Summer Abbas, are mainly targeting the residents of district Layyah through branch offices, WhatsApp and calls.<br \/>\nThey persuade the people to make investment in Summit 4X Trade and Summit AH Experts promising lucrative profits of upto 30%. To further their deceptive motives, Mr. Abdul Hai has registered a Company namely Summit AH Experts (SMC-Private) Limited with SECP under the Companies Act, 2017, to create an illusion of legitimacy by misusing its registration status to gain public trust.<br \/>\nSECP clarifies that the Company or unregistered entities are not authorized to accept deposits\/ investments in any form or arrangement.<br \/>\nSECP strongly warns the general public NOT TO INVEST OR DEPOSIT FUNDS with Summit 4X Trade\/Summit AH Experts\/ Summit AH Experts (SMC-Private) Limited or any similar illegal investment or deposit-taking platform.<br \/>\nSECP has added the name of the Company to the \u201cList of Companies Engaged in Unauthorized Activities\u201d on the SECP\u2019s official website. In addition, SECP has referred this matter to the relevant investigative authorities for further action against those involved in this illegal activity.<br \/>\nThe general public is once again reminded that a company\u2019s \u201cCertificate of Incorporation\u201d only confirms its registration with the SECP and does not authorize the company to raise deposits or launch investment schemes. The SECP urges individuals to remain vigilant and verify the legitimacy of any investment opportunity through its official channels.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal deposit taking\/investment scheme being operated under the name of Summit 4X Trade and Summit AH Experts. The scheme\u2019s sponsors, Abdul Hai and Summer Abbas, are mainly targeting the residents of district Layyah through branch offices, WhatsApp and calls. They persuade the people [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-454559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP Alerts Public against a Fraudulent Investment Scheme<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/secp-alerts-public-against-a-fraudulent-investment-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECP Alerts Public against a Fraudulent Investment Scheme\" \/>\n<meta property=\"og:description\" content=\"Islamabad The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal deposit taking\/investment scheme being operated under the name of Summit 4X Trade and Summit AH Experts. The scheme\u2019s sponsors, Abdul Hai and Summer Abbas, are mainly targeting the residents of district Layyah through branch offices, WhatsApp and calls. 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