The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal investment/deposit-taking platform operating under the name “SMARTPAYS“.
The platform is being promoted through a website (https://smartpays.org/.), falsely claiming the provision of substantial returns on investment/ deposit schemes being offered through the platform.
SMARTPAYS is also falsely claiming to be a licensed non-banking finance company and is displaying a fake Certificate of Incorporation on its website with the name “SMART FINANCE (PRIVATE) LIMITED”. The Public is informed that “SMARTPAYS/ SMART FINANCE (PRIVATE) LIMITED” is neither registered nor licensed by SECP as a non-banking finance company.
SECP hereby WARNS THE PUBLIC NOT TO DEPOSIT OR INVEST FUNDS with ” SMARTPAYS/ SMART FINANCE (PRIVATE) LIMITED” or any such other illegal investment/deposit-taking platform in whatsoever form and whatsoever arrangement.
The name “SMARTPAYS/ SMART FINANCE (PRIVATE) LIMITED ” has been added to the “List of Companies engaged in Unauthorized Activities” available on SECP’s website. Furthermore, SECP has also referred the matter to relevant investigation authorities.
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Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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Jurisdiction: Pakistan