PAKISTAN: The Securities and Exchange Commission of Pakistan (SECP) has issued a public warning against the investment scheme MAG Ventures, promoted by Syed Mohsin Sultan Shah as Halal and Shariah compliant. The scheme, offering unrealistic monthly profits of 5% to 12% for partnerships in meat exports to the middle east and other similar ventures, is identified as fraudulent, the regulator said.
The SECP named MAG Ventures, Galaxy Traders, MAG Ventures (SMC-Private), MAG Organic Meats (SMC-Private) and MAG Builders & Developers (SMC-Private) as unauthorized entities.
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