ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has issued warning advising general public against investing in fraudulent investment schemes of Meilleuretech Services, sole proprietorship concern.

SECP has noticed that entity, owned by Zeeshan Munir is prima facie accepting deposits from public illegally by offering various illegal “Advertisement watching packages” and promising unrealistic daily and weekly returns, said press release issued here. It is clarified that said entity does not hold any license to collect deposits from public.

SECP has also received multiple complaints that 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.

SECP has initiated legal proceedings against Zeeshan Munir and his entities, which include deregistering/ winding up Meilleuretech Services (SMC-Private) Limited, disqualifying Zeeshan Munir from becoming Chief Executive and Director of any company and imposing penalties.

SECP is also referring matter to relevant investigation authorities. Name of Meilleuretech Services (SMC-Private) Limited has been added to ‘List of Companies engaged in Unauthorized Activities’ available on SECP’s website.

Published in The Daily National Courier, October, 11 2023

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