The Securities and Exchange Commission of Pakistan (SECP) on Wednesday warned the general public against investing in any fraudulent investment schemes that promise hefty profits and unrealistic incentives.
The Commission has been constantly clarifying that mere registration of a company, does not authorize it to solicit deposits from the general public or offer investment schemes. The SECP has noticed that a company, namely “Alliance in Motion Global (Private) Limited,” is offering various packages to attract the public to its unlawful business activities of multi-level marketing (MLM), in violation of clauses of the memorandum of association. The directors of the company include Raymond Asperin, Eduardo Cabantog, and Ahmad Muhammad.
