The Securities and Exchange Commission of Pakistan (SECP) in warning issued on Sunday has advised the general public against investing in fraudulent investment schemes of Meilleuretech Services, a sole proprietorship concern.
The SECP has noticed that the entity, owned by Mr. Zeeshan Munir, was prima facie accepting deposits from the public illegally by offering various illegal “advertisement watching packages” and promising unrealistic daily and weekly returns. It was clarified that the said entity does not hold any license to collect deposits from the public.
SECP has also received multiple complaints that the individuals, after depositing funds with Meilleuretech Services, did not receive any packages but were asked to arrange for more individuals to buy packages or deposit further funds to get their earnings.
The SECP has also initiated legal proceedings against Mr. Zeeshan Munir and his entities, which include deregistering/ winding up Meilleuretech Services (SMC-Private) Limited, disqualifying Mr. Zeeshan Munir from becoming chief executive and director of any company, and imposing penalties.
