CategoriesProperty Real Estate

Don’t invest in fake real estate schemes. 

SECP has warned the public against investing in unlawful, fake or illegal investment schemes. Schemes involving such products are dangerous and must be avoided. Online investment scheme is being heavily advertised in Pakistan through online platform. Fraudsters regularly target victims using the lure of investment opportunities but the SECP has come out to make people aware of the fraudulent groups and their schemes by publishing the names of some of the groups.

How To Protect Yourself From Scams

If you invest in the shares of these companies, they can offer you lucrative returns. Regarding real estate and these companies are so convincing that they lure the investors to invest in their projects. The following companies were found engaged in fraudulent activity through their online platforms. They can be prevented from future scams.

Xstate Technologies Limited Company, Beacon Marketing Limited, International Hospitality Investment Group Limited, Dao Proptech Limited and Neo Cassa Limited.

The securities and exchange commission of Pakistan (SECP)

All of these above-mentioned companies have the approval to conduct this activity under the sandbox regulatory regime of the SECP. The Securities and Exchange Commission of Pakistan (SECP) already initiated legal action against these entities and the commission can wind up these fraudulent companies for their unlawful activities under section 301 of the Companies Act, 2017.

SECP Warns Public Against Fraudulent Real Estate Schemes

“While SECP has introduced legal actions against the objects for illegal actions, it is supposed suitable to warn the public about probable misuse of company registration status by these objects to betray them.

The commission has already warned the general public not to invest in these fraudulent schemes, marketed by these companies, or otherwise, you will be responsible for the loss and be careful about other projects, marketed by other developers. Pakistani real estate agents always advise you to double-check the investment scheme, community, and project before parking your savings there.
Team multiplierz group can help you invest your hard-earned money, and find out about upcoming residential projects.

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