In this time when everyone’s in a hustle, trying to make ends meet, people search for different ways to make easy money. In the last 10 years, Pakistan has seen exceptional growth in ‘alliance companies’ which guarantee to return your invested money along with a certain percentage of profit on it after some time. The idea became a hit among the commoners and the number of companies started to grow rapidly.
A human mind doesn’t accept the fact that if something has a positive outcome, it must be having some negative aspects too. Well, the alliance companies were returning people’s money with profit in the start and that got everyone’s attention and trust. With time, these companies had their existence in nearly every city of Pakistan. Different names but same work served as the motto. People started investing in these companies without even thinking twice and it all went downhill after these companies turned out to be a huge scam.
The Securities and Exchange Commission of Pakistan (SECP), recently identified a similar fraud company operating in Quetta. Commonly known as ‘Double Shah’ the man behind 3A Alliance (PVT) Limited, Kashif Qamar, is involved in these scams that are worth millions of rupees. Kashif first urges its customers to invest in his products, then they are given a percentage of profit they’ll receive at the given time and then he runs away with the money.
This is the logo and name of the Quetta scam!
The SECP had warned Pakistanis several times about these companies and had strictly stated not to invest any money in them. A crackdown against these frauds was launched and many manipulators were arrested.
Here’s the video of Double Shah’s fraudulent scheme. Do watch!
In the video, a reporter of a local news channel is covering the whole fraud and telling people to stay safe and protect their hard earned money. They first ask you to invest at least 20000 rupees which will incur a profit of 3000 rupees monthly. Operating at nearly six spots in Quetta only, they have no proof or trail of money to show when asked. Majority of the owners have scammed many and ran away after shutting down the companies. The ones who are still running are on high alert of the security agencies.
Is this what they are trying to do?
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