Arif Habib Limited and Pakistan Stock Exchange Warn Investors About Impersonation Investment Scam

Arif Habib Limited (AHL), a Pakistan Stock Exchange (PSX)-listed company, has issued a warning regarding a fraudulent scheme impersonating the firm, urging retail investors not to fall victim to the scam. PSX also cautioned investors to be vigilant against fraudsters posing as compliant companies on social media and offering unauthorized investment schemes.

AHL urged the public to remain highly vigilant, stating that the fraudsters' schemes involve false and misleading information. A man named Fawad Ahmed Latif, who claims to be the "Chief Investment Officer of Pitics Investment Management LLC," allegedly solicited investments by falsely presenting a partnership with AHL.

This individual allegedly collected money under the guise of brokerage or other services, falsely assuring investors that these funds would be traded through AHL or the Pakistan Stock Exchange. AHL has learned that some WhatsApp groups may also be associated with this fraudulent investment scheme.

AHL emphasized that accounts opened through the aforementioned channels are not AHL accounts, and the company assumes no responsibility for investments made through unauthorized channels.

AHL denies any affiliation with Latif or Pitics Investment Management LLC and has taken measures to protect investors from harm.

AHL has notified banks about accounts opened under "AHL Management" and "AHL Services," and alerted regulators to the fraudulent activities and misrepresentations. CEO Shahid Ali Habib uploaded a video warning via AHL's official YouTube channel, cautioning investors against fake accounts and scammers' fraudulent intentions.

On the same day, the Pakistan Stock Exchange (PSX) issued a separate investor alert warning about the growing number of fraudulent investment schemes on social media.

PSX stated that fraudsters increasingly impersonate corporate executives or falsely claim affiliations with licensed companies to lure the public into unregulated investment schemes. They exploit the logos, names, and fabricated identities of compliant firms to create an illusion of legitimacy.

These groups often demand membership fees from investors, offer so-called "exclusive insider tips," or guarantee returns.

AHL and PSX advise investors to verify all investment experts and entities through the Securities and Exchange Commission of Pakistan (SECP) and PSX before investing, and to avoid disclosing personal or financial information to unidentified individuals or platforms.

BrokersView reminds you

All investors are advised to verify the licenses of trading platforms and financial firms to ensure that they are authorized by local financial regulators before making any investment decisions. Unauthorized financial activities often carry a high risk of investment scams.

If you would like to find out the regulatory status of a trading platform, you can search for the platform's name in BrokersView.