The Securities and Exchange Commission of Pakistan (SECP) has issued a public alert warning citizens about an unauthorized investment scheme run under the name “MAG Ventures.”
According to the SECP public alert, the scheme is being promoted aggressively on social media by Syed Mohsin Sultan Shah. It promises monthly “halal” profits of 5 to 12 percent on investments ranging from Rs100,000 to Rs10 million. These offers are disguised as business partnerships in meat exports to Gulf countries and are backed by post-dated cheques, stamp paper agreements, and religious endorsements.
To appear credible, the individual behind the operation has registered three companies: MAG Ventures (SMC-Private) Limited, MAG Organic Meats (SMC-Private) Limited, and MAG Builders & Developers (SMC-Private) Limited. The businesses claim to operate in sectors such as real estate, supermarkets, automotive trade, cafés, fashion, and electronics.
However, the SECP noted that the actual deposit collection is being conducted through an unregistered entity, Galaxy Traders, and cryptocurrency wallets, which bypass regulatory oversight.
The SECP public alert states that none of the mentioned entities are authorized to raise deposits or launch investment schemes. These names have been added to SECP’s List of Companies Engaged in Unauthorized Activities, available on its official website. The case has also been forwarded to relevant investigation authorities for further action.
SECP reminded the public that a Certificate of Incorporation only proves legal registration and does not permit a company to collect funds from the public. It urged individuals to verify any investment offer via SECP’s official channels before depositing money.