ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has issued a warning
advising the general public against investing in fraudulent investment schemes of ISMMART Group.
The SECP has noticed that an entity, namely “Ismmart Group”, owned by Shaukat Ullah Khan, is prima facie
raising deposits from the public by promising them unrealistic monthly returns. It is clarified that the said entity
does not hold any license to collect deposits from the public.
It is pertinent to mention here that SECP had imposed penalties on Shaukat Ullah Khan for marketing such illegal
investment schemes through companies of Shaukat Marwat Group. In addition, he has been disqualified from
becoming chief executive or director of any company in Pakistan, and matter has been referred to the National
Accountability Bureau (NAB), which has already initiated an inquiry against Mr. Shaukat Ullah Khan and his
companies.
Since Mr. Shaukat Ullah Khan is not eligible to form a company, he has registered 12 new companies through
his family members and other associates. Further, in order to give the public, the impression that Issmart Group
is a large business group with a global presence, he has also registered a number of 1-pound companies with
Companies House UK.
The names of companies of Ismmart Group have been added to the list of companies engaged in unauthorized
activities, available on SECP’s website. SECP has also initiated investigation proceedings against companies of
Ismmart Group; however, Mr. Shaukat Ullah Khan has challenged the investigation proceedings in the Honorable
Islamabad High Court, which has restrained SECP from passing the final investigation order.
