Islamabad, August 8, 2026(Kamran Raja): The Securities and Exchange Commission of Pakistan (SECP), reaffirming its commitment to protecting investors and maintaining the integrity of Pakistan’s capital markets, has referred the case of M/s Blink Capital Management (Private) Limited to the Federal Investigation Agency (FIA) for further investigation and legal action.SECP Chairman Dr. Kabir Ahmed Sidhu said the Commission would take strict action against market abusers, manipulators and entities that misuse their regulatory status to deceive investors. He said safeguarding investors’ interests remains the Commission’s top priority and that all necessary regulatory and enforcement measures would be taken against those who abuse the market or investors’ trust.Blink Capital Management was a licensed futures broker and market maker of Pakistan Mercantile Exchange Limited (PMEX). The SECP initiated an investigation under Section 83 of the Futures Market Act, 2016, following complaints from investors alleging unauthorized collection of funds on promises of fixed returns and guaranteed repayment of principal.

During the investigation, 35 complainants submitted claims totaling Rs. 446.664 million. A detailed examination of the financial trail involving 29 complainants traced approximately Rs. 408.6 million transferred to accounts of Blink Capital Management, its then Chief Executive Officer and director, as well as accounts linked to certain employees and associated persons. Significant amounts were also withdrawn in cash. The investigation further revealed that investors had entered into agreements offering predetermined returns ranging from 3.7 percent per month to 48 percent per annum, while post-dated cheques were issued as security for repayment of the principal amount.Based on the available evidence, the investigation concluded that Blink Capital Management was allegedly operating a Ponzi-type fraudulent investment scheme, involving illegal deposit-taking and the offering of guaranteed returns beyond the scope of its licensed activities.

The investigation also identified potential violations of the Companies Act, 2017; Futures Market Act, 2016; and Futures Brokers (Licensing and Operations) Regulations, 2018. Considering the gravity of the findings, the SECP approved referral of the matter to the FIA under Section 41B of the SECP Act, 1997, for further investigation and action in accordance with law, including redressal of investors’ grievances.The SECP has also advised the public to exercise caution against unauthorized investment schemes and, in particular, to avoid schemes offering fixed or guaranteed returns and guaranteed repayment of the principal amount.