The Securities and Exchange Commission of Pakistan (SECP) has issued a warning to the public against Fraudulent Investment Scheme identifying another illegal deposit taking/investment scheme being operated under the name of Summit 4X Trade and Summit AH Experts. Stated in a press release on Thursday that the scheme’s sponsors, Abdul Hai and Summer Abbas, are mainly targeting the residents of district Layyah through branch offices, WhatsApp and calls. They persuade the people to make investment in Summit 4X Trade and Summit AH Experts promising lucrative profits of upto 30%. To further their deceptive motives, Abdul Hai has registered a Company namely Summit AH Experts (SMC-Private) Limited with SECP under the Companies Act, 2017, to create an illusion of legitimacy by misusing its registration status to gain public trust. SECP clarifies that the Company or unregistered entities are not authorized to accept deposits/ investments in any form or arrangement. SECP strongly warns the general public NOT TO INVEST OR DEPOSIT FUNDS with Summit 4X Trade/Summit AH Experts/ Summit AH Experts (SMC-Private) Limited or any similar illegal investment or deposit-taking platform. SECP has added the name of the Company to the “List of Companies Engaged in Unauthorized Activities” on the SECP’s official website. In addition, SECP has referred this matter to the relevant investigative authorities for further action against those involved in this illegal activity. The general public is once again reminded that a company’s “Certificate of Incorporation” only confirms its registration with the SECP and does not authorize the company to raise deposits or launch investment schemes. The SECP urges individuals to remain vigilant and verify the legitimacy of any investment opportunity through its official channels.