The Securities and Exchange Commission of Pakistan has issued a public warning after identifying a prima facie fraudulent investment and deposit-taking scheme being promoted by Syed Mohsin Sultan Shah under the name “MAG Ventures” through social media. The scheme offers purported business partnerships in meat exports to Gulf countries and promises guaranteed “halal” monthly profits of 5% to 12%, with investment packages ranging from PKR 100,000 to PKR 10 million. It claims investor security through stamp paper agreements and post-dated cheques and advertises expansion into multiple sectors and overseas operations. While companies with similar names have been incorporated under the Companies Act, 2017, funds are reportedly being collected via the bank account of an unincorporated entity, “Galaxy Traders,” and cryptocurrency wallets. SECP warned the public not to invest or deposit funds with “MAG Ventures,” “Galaxy Traders,” MAG Ventures (SMC-Private) Limited, MAG Organic Meats (SMC-Private) Limited, MAG Builders & Developers (SMC-Private) Limited, or any associated entity, noting they are not authorized to collect deposits or offer investment schemes. The named companies have been added to SECP’s list of companies engaged in unauthorized activities, and the matter has been referred to relevant investigation authorities for further action.
Securites & Exchange Commission of Pakistan 2025-08-01
Securities and Exchange Commission of Pakistan warns against MAG Ventures and related entities over suspected fraudulent deposit-taking scheme
The Securities and Exchange Commission of Pakistan (SECP) warns against a fraudulent investment scheme by Syed Mohsin Sultan Shah under "MAG Ventures." The scheme, offering partnerships in meat exports with promised monthly profits of 5% to 12%, is linked to unauthorized entities like "Galaxy Traders" and several MAG-named companies. SECP advises against investing with these entities, now on its list of unauthorized companies, and has referred the matter to investigation authorities.