An online investment company has defrauded more than 100,000 KP residentsof Rs. 5.6 billion.
According to details, PSlash, the company in question, had set up an officein Deans Trade Center in Peshawar this year in January.——————————
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The company raised significant funds by duping unsuspecting real estate anddigital and foreign currency investors on the pretext of returning profitsup to 13%.
However, on 20 November, the company’s website apparently went offline anda notification appeared on it which read ‘system is hacked.’
Victims of the scam, many of whom have lost their entire life savings, havesaid they are unable to contact the company’s representatives since 20November.
They claimed the company had changed its name thrice from Earn Bitcoin toPayslash and finally to PSlash. They said the agents and managerial staffof the company always assured them that the company was registered withSECP.
A lawyer representing one of the victims has said that the first complaintagainst PSlash for suspicious activities was lodged in FIA on 24 Augustwhile the second complaint was registered with PTA on 16 September.——————————
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However, FIA and PTA failed to take timely action against PSlash whichresulted in 100,000 people losing their hard-earned money, the lawyer added.
Had the agency and the regulator taken timely action against the fraudulentcompany, this billions of rupee scam would not have happened in Peshawar.
A senior official in FIA Peshawar has acknowledged that the scam is worthRs. 5.6 billion but declined to explain the reason behind the agency’sfailure to take action despite receiving a formal complaint a few monthsago.
Similarly, a PTA spokesperson also admitted that the regulator had receiveda complaint against the company in September.
*Via: Arab News link*
