FIA to Investigate Alleged Rs. 44.6 Crore Investment Scam At Blink Capital
The Securities and Exchange Commission of Pakistan (SECP) has referred the case of Blink Capital Management (Private) Limited to the … Read More The post FIA to Investigate Alleged Rs. 44.6 Crore Investment Scam At Blink Capital appeared first on ProPakistani .
The Securities and Exchange Commission of Pakistan has referred a case involving Blink Capital Management to the Federal Investigation Agency due to allegations of a fraudulent investment scam totaling Rs. 44.6 crore. The investigation, initiated under the Futures Market Act, targeted the company, a licensed futures broker and market maker on the Pakistan Mercantile Exchange, after 35 investors filed complaints.
The regulator's probe identified transactions involving 29 complainants, totaling Rs. 408.6 million, which were allegedly transferred to Blink Capital's CEO, employees, and associated individuals. The SECP concluded that Blink Capital was operating a Ponzi scheme, promising inflated returns with illegal deposit-taking and violating relevant laws.
SECP Chairman Dr. Kabir Ahmed Sidhu vowed strict action against the violators and cautioned the public about unauthorized investment schemes.
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