SECP Issues Public Alert on Fraudulent Investment Scheme Operators Summit 4X Trade and Summit AH Experts

The Securities and Exchange Commission of Pakistan (SECP) has uncovered an illegal deposit-taking/ investment scheme operated under the names Summit 4X Trade and Summit AH Experts. The scheme's sponsors, Abdul Hai and Summer Abbas, primarily target residents of District Layyah through branch offices, WhatsApp, and phone calls, promising returns of up to 30%.

To lend credibility to their fraudulent activities, Abdul Hai registered Summit AH Experts (SMC-Private) Limited with the SECP under the Companies Act, 2017, in an attempt to create a false impression of legitimacy. However, the SECP has made it clear that neither this company nor any unregistered entities are authorized to accept deposits or investments in any form.

The SECP strongly warned the public not to invest or deposit funds with Summit 4X Trade, Summit AH Experts, or Summit AH Experts (SMC-Private) Limited. The Commission has added the companies to its "List of Companies Engaged in Unauthorized Activities" and has referred the matter to investigative authorities for further action.

The SECP reminded the public that a company’s “Certificate of Incorporation” only confirms its registration with the SECP and does not authorize it to raise deposits or launch investment schemes and recommended caution. The SECP also urged individuals to verify the legitimacy of any investment opportunity through its official channels.