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.
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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.
