{
  "id": 344974,
  "title": "Blink Capital faces FIA fraud probe",
  "url": "https://urgent.news/2026/08/09/blink-capital-faces-fia-fraud-probe",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-09T00:42:47.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2021622/blink-capital-faces-fia-fraud-probe"
  },
  "original_language": "en",
  "account": "The Securities and Exchange Commission of Pakistan (SECP) has referred Blink Capital Management to the Federal Investigation Agency (FIA) for a fraud probe, following over 35 complaints of misappropriation of Rs446.66 million. SECP Chairman Dr Kabir Ahmed Sidhu emphasized the commission's commitment to safeguarding investors' interests and taking appropriate regulatory and enforcement actions against those who abuse the market or investors' trust. Blink Capital Management, a licensed futures broker and market maker for Pakistan Mercantile Exchange Ltd (PMEX), allegedly operated a Ponzi-type scheme, involving fraudulent deposit-taking and the offering of guaranteed returns beyond its licensed activities. Evidence from the investigation revealed 29 complainants, totaling Rs408.6 million, with substantial funds transferred to Blink, its CEO, and associated persons, while cash withdrawals also occurred. The scheme offered predetermined returns ranging from 3.7% per month to 48% per annum, with post-dated cheques issued as security.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}