The Securities and Exchange Commission of Pakistan (SECP) Wednesday said that M/s Prime Zone and its owner, Imran Butt, were involved in offering illegal deposit and investment schemes to the public by promising unrealistic monthly returns in the name of LPG trading. The entity was operating social media pages with the title “Prime Zone Ltd.” and giving a false impression of being a registered company, said a press release issued here. The public is hereby informed that no company with the name and style of ‘Prime Zone Ltd’ had been registered with the SECP. It said: “Prime Zone is neither a registered entity nor is it allowed to accept deposits or investments from the public.” The public is hereby WARNED NOT TO DEPOSIT/ INVEST FUNDS with Prime Zone and its owner Imran Butt in whatsoever form and whatsoever arrangement. SECP has initiated legal proceedings against the involved persons.
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