SECP raises red flag on Prime Zone Ltd for alleged illegal investment schemes

MG News | December 21, 2023 at 10:35 AM GMT+05:00

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December 21, 2023 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has issued a public alert, citing its observation that Prime Zone and its owner, Imran Butt, are engaged in illegal deposits and offering investment schemes to the public.

This activity involves promising unrealistic monthly returns under the guise of LPG trading.

The entity is operating social media pages with the title "Prime Zone Ltd." and giving a false impression of being a registered company.

The public is hereby informed that no company with the name and style of 'Prime Zone Ltd' is registered with the SECP.

Prime Zone is neither a registered entity nor is it allowed to accept deposits or investments from the public.

Moreover, the SECP has initiated legal proceedings against the involved persons.

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