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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) advices public against another illegal deposit/investment scheme being operated by an unincorporated entity named RAMPERS.

The scheme’s sponsors, Anees Bukhari and Shabbir Ahmed, are misleading the public by portraying RAMPERS as a large and diversified conglomerate.

The group claims to offer products and services in various sectors, including food, garments, cosmetics, water plant services, real estate, baby diapers, and tea brands. Through aggressive marketing tactics, the sponsors are enticing the public to invest in their deposit/ investment schemes requiring contributions ranging from Rs 100,000 to Rs 10 million or more. They are luring potential investors with promises of unrealistic and exorbitant profits of up to 25% per month.

To further their deceptive practices, the sponsors have registered following six companies under the Companies Act, 2017, to create an illusion of legitimacy around the group’s activities. These companies are being used as a front to mislead the public and obscure the illegal nature of their investment scheme.

Relish Products (Private) Limited, Alag Garments (Private) Limited, Moldavite Cosmetics (Private) Limited, Panilelo (Private) Limited, Elite Dealer (Private) Limited, Sipz Tea (Private) Limited.

RAMPERS is neither registered with the SECP nor authorized to accept deposits/ investments in any form. Furthermore, none of the six companies registered under the Companies Act, 2017, and associated with RAMPERS, are permitted to collect deposits or operate investment schemes.

RAMPERS and its associated companies have been added to the “List of Companies Engaged in Unauthorized Activities” on the SECP’s official website. In addition, the SECP has referred this matter to the relevant investigative authorities for further action against those involved in illegal deposit-taking/ investment activities.

Copyright Business Recorder, 2024

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