Blink Capital faces FIA fraud probe

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The image shows the Federal Investigation Agency headquarters in Islamabad on August 22, 2025. — screengrab via X/MOIofficialGoP
The image shows the Federal Investigation Agency headquarters in Islamabad on August 22, 2025. — screengrab via X/MOIofficialGoP

ISLAMABAD: After investigating over 35 complaints of misappropriation of Rs446.66 million, the Securities and Exchange Commission of Pakistan (SECP) has referred the case of M/s Blink Capital Management (Pvt) Ltd to the Federal Investigation Agency (FIA). for further investigation and appropriate action under the law.

SECP Chairman Dr Kabir Ahmed Sidhu said that the commission will deal strictly with market abusers, manipulators, and entities that misuse their regulated status to deceive investors. “Safeguarding investors’ interests is paramount. SECP will pursue those who abuse the market or investors’ trust, and will take all necessary regulatory and enforcement actions to protect investors and preserve market integrity,” he said.

Blink Capital Management was a licensed futures broker and market maker for Pakistan Mercantile Exchange Ltd (PMEX).

The SECP initiated an investigation under Section 83 of the Futures Market Act 2016, following complaints from investors alleging unauthorised collection of funds on promises of fixed returns and guaranteed repayment of principal.

SECP finds alleged Rs408.6m Ponzi scheme after 35 complaints

A detailed financial trail involving 29 complainants and Rs408.6m showed that substantial funds were transferred to the accounts of Blink, its then-CEO and director, as well as to accounts linked to certain employees and associated persons. Significant amounts were also withdrawn in cash.

The investigation found that investors had entered into agreements offering predetermined returns ranging from 3.7pc per month to 48pc per annum, with post-dated cheques issued as security. Based on the available evidence, the investigation concluded that Blink was allegedly operating a Ponzi-type fraudulent investment scheme that involved illegal deposit-taking and the offering of guaranteed returns beyond the scope of its licensed activities.

Published in Dawn, August 9th, 2026

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