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SECP initiates legal proceedings against 2 companies under Companies Act, 2017

The Securities and Exchange Commission of Pakistan has initiated legal proceedings against M/s Gold Transmit Network Technology (Pvt) Limited, and M/s Green Apple Super Market (Pvt) Limited in Companies Act, 2017.

The companies have been found involved in unauthorized activities and offering Ponzi business/schemes in Pakistan to deprive the unsuspecting public of their hard-earned money who fall prey to the incentives and hefty profits offered by them.

The Commission has warned the people not to be misled by fraudulent activities, Ponzi/Pyramid/multilevel marketing schemes launched by the companies through advertising in the electronic and print media, websites, emails, and mobile text messages.

Source: Radio Pakistan

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