AKD Securities warns of impersonation scam

September 06, 2024 (MLN): AKD Securities Limited (AKDSL) has issued a warning to the public about a scam being perpetrated by unauthorized individuals falsely claiming to represent the company, the company's filing on PSX reads today. 

These fraudsters have created a WhatsApp group to mislead unsuspecting investors by posing as official representatives of AKD Securities.

According to AKDSL, these individuals are operating under the guise of providing investment advice on behalf of the company.

An individual within the group is falsely claiming to be the "Chief Strategy Analyst" of AKD Securities Limited and is circulating messages that promise high returns on investments.

The messages also include specific stock recommendations, designed to lure potential victims into making uninformed financial decisions.

The fraudulent message reads:

"Good morning, sir. I am Azartush Singh, Chief Strategy Analyst at AKD Securities. Every day from 10:00-14:30, I will recommend high-quality low-valuation stocks with more than 40% short-term gains and launch two low-valuation early morning and late evening stocks with upside potential for your reference and purchase. Please pay attention to the group news in time, so as not to miss the best time to buy."

The brokerage house categorically denies any association with these activities, individuals, or group(s).

"We do not provide investment advice through unofficial channels such as WhatsApp groups or unverified social media pages," the statement added.

AKD Securities strongly urged the public, clients, and stakeholders not to engage with any messages, groups, or individuals claiming to represent AKD Securities Limited outside the official communication channels.

The brokerage house also encourages the investors to report any suspicious activity to the official support channels.

AKDSL is committed to protecting its clients and the public from fraudulent activities.

The brokerage house is taking immediate steps to work with the relevant authorities and our regulators to address this issue and prevent any further misuse of the name.

Copyright Mettis Link News