The self-styled stocks ‘guru’ who had been arrested yesterday (Monday) by Security and Exchange Commission of Pakistan (SECP) has said that his achievement deserves a film made on it. Meanwhile, SECP Chairman Zafar Hijazi says that his name would be recommended to be put on Exit Control List (ECL), reported Dunya News.
The fraudster named MAK used to buy shares, then convinced people through social media posts how good the prospects of the company really were and then when people rushed to buy the shares, he’d sell his own to them. In six months, Mac had made Rs 58.6 million from this fraud.
Hijazi says that Muhammad Ali Khan, aka MAK, used to buy shares of various companies and then would initiate fake rumours of their meteoric rise.
The suspect has been fined 2.5 million dollars in the past for a similar fraud in the United States as well. SECP officials say that MAK wants a film made on his life. He also claimed that a famous producer’s assistant was already working on his story.