Nepal, Aug. 25 -- The Securities Board of Nepal (SEBON) has warned the public against fraudulent schemes involving the sale of shares in the name of "pre-initial public offerings" (pre-IPO), stating that such transactions are illegal under existing laws.

SEBON said it has received numerous complaints about individuals and groups attempting to lure investors by offering shares of companies that have not yet issued their primary shares. These offers, often promising returns up to five times the investment, are being circulated through WhatsApp, Viber, Facebook, email, and SMS, according to the regulator.

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