SECP warns public against illegal investment scheme by RAMPERS

December 18, 2024 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has issued a public advisory against an illegal deposit and investment scheme operated by an unincorporated entity named RAMPERS.

According to SECP, the scheme's sponsors, Anees Bukhari and Shabbir Ahmed, are misleading the public by falsely portraying RAMPERS as a large and diversified conglomerate.

The regulator has cautioned citizens to remain vigilant and avoid investing in such unauthorized schemes, which pose significant financial risks.

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 Rs100,000 to Rs10 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 the 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
•     Pani lelo (Private) Limited
•     Elite Dealer (Private) Limited
•     Sipz Tea (Private) Limited

RAMPERS is neither registered with 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, SECP has referred this matter to the relevant investigative authorities for further action against those involved in illegal deposit-taking/ investment activities.

The general public is 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.

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