KARACHI: The Securities and Exchange Commission of Pakistan has warned people against unauthorised online investment platforms operating under the names Hillhouse Capital or Hillhouse Investment and S-169 Wharton, saying they are illegally soliciting funds with false promises of high returns.
In a statement, the SECP said the entities are neither licensed nor authorised to run any investment or trading platform in Pakistan. It added that the matter has been reported to relevant law enforcement agencies for further action.
The regulator said such illegal schemes are often promoted through WhatsApp groups and other online channels, where fraudsters misuse the names of licensed brokers, reputable institutions or well-known professionals to gain public trust.
The SECP advised investors to deal only with securities and futures brokers licensed by the commission and to contact them solely through official communication channels listed on their websites. It noted that updated lists of licensed brokers are available on the websites of the Pakistan Stock Exchange and the Pakistan Mercantile Exchange.
Urging caution, the SECP warned the public not to deposit or invest funds with Hillhouse Capital or Hillhouse Investment, S-169 Wharton, or any individuals or groups promoting similar illegal platforms. It advised investors to verify the legitimacy of any investment service before sharing personal or financial information.
