BEWARE: How a fake online investment company defrauded 100,000 people from Khyber Pakhtunkhwa

It should be noted that a senior official in FIA Peshawar reported that the scam is worth Rs. 5.6 billion.

100,000 KP residents defrauded of Rs. 5.6 billion by PSplash.

PSlash, an online investment company, defrauded approximately 100,000 KP residents of Rs. 5.6 billion. Reports state that PSlash had set up an office in Deans Trade Center in Peshawar this year in January.

Since then, the company in question raised significant funds by duping unsuspecting real estate and digital and foreign currency investors on the pretext of returning profits up to 13%.

 

PSlash attracted people to the scam in hopes of 13% profit.

The scam unveiled when on the 20th of November, the company’s website went offline, and a notification appeared on the main page which read:

The system is hacked.

Talking about the incident, worried victims of the fraud said:

We are unable to contact the company’s representatives since the 20th of November. We have lost our entire life savings.

Peshawaris became victim of major online scam.

The victims claimed:

The company had changed its name thrice, beginning from Earn Bitcoin to Payslash and finally to PSlash. However, the agents and the managerial staff of the company always assured us that the company was registered with SECP.

A lawyer representing one of the victims stated:

The first complaint against PSlash for suspicious activities was lodged in FIA on the 24th of August, while the second complaint was registered with PTA on the 16th of September.

A PTA spokesperson confirmed that the regulator had received a complaint against the company in September.

The lawyer further added:

However, FIA and PTA failed to take timely action against PSlash, which resulted in 100,000 people losing their hard-earned money.

The lawyer continued to say:

Had the agency and the regulator taken timely action against the fraudulent company, this billions of rupee scam would not have happened in Peshawar.

Authorities failed to save 100,000 KP residents from a major online scam.

It should be noted that a senior official in FIA Peshawar reported that the scam is worth Rs. 5.6 billion. However, when asked about the agency’s failure to take action despite receiving a formal complaint, the official declined to give any explanation.

What are your thoughts on this? Please share with us in the comment section below.

  • ۔ اس فراڈ کاحصہ ہیں۔ FIA PESHAWARمیرے خیال میں
    اسی لیے انہوں نے بروقت کاروائی کے بجائے اس دھوکےباز کمپنی کو بروقت خبر دے کر بھاگنے میں مدد کی ہے ۔کیونکہ عمومی طور پر اس طرح کے کام متعلقہ اداروں کو اعتماد میں لیے بغیر بہت مشکل ہوتے ہیں۔ شکریہ

    • ab ye company instaforex k nam se kam kr rhi hai, it’s not only jusr money hesit but also potential phone/data hacking tool.
      you also receive calls from Special Rawalpindi numbers pretending as company’s hr employees. they have many andorid fx-trading apps on playstore,a mass cyber gang on loose, ruining life savings of too many people. currently operating under the domain of instaforex.com

  • Another one in market is with the name of BizzTrade and Bizzacoin , beware guys… Get an exit before you loose your hard earned cash,
    There is nothing like short cut schemes to get rich early.

  • اگر FIA AND PTA وقت پہ ایکشن لیتی تو لوگوں کا نقصان بھی نا ہوتا اور اپنے ڈیوٹی کے فرائض بھی بجا لاتے، مگر مجھے یقین ہے ان میں FIA AND PTA برابر کے شریک ہیں ۔

  • An inquiry should be held and to those whom the complaint was registered and didn’t take action be considered as partners in the crime.


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