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Monday, September 18, 2023

The FIA has uncovered a staggering Rs. 7 billion worth of assets in a Rawalpindi plaza owned by a property tycoon



    The FIA conducted a raid at Burj-e-Noor Plaza in Rawalpindi, owned by property tycoon Sheikh Iftikhar Adil, uncovering a remarkable Rs. 7 billion in foreign currency, primarily in dollars, hidden in basement lockers. This discovery raised suspicions of connections with prominent figures in the media and real estate sectors, and the sheer volume of cash made counting it a challenging task for the FIA team.


Sheikh Iftikhar Adil, known for his interests in Daily Asas and Al-Haram City, had established multiple high-tech lockers within the plaza. The FIA, astonished by the large number of these lockers, had to seek assistance from other agencies. Acting on a tip-off and supported by substantial evidence of wrongdoing, the FIA's Banking Circle conducted a raid, discovering 13 high-tech lockers packed with cash, leading to the immediate arrest of two individuals.


Before conducting the raid, the team conducted a week-long surveillance of the area and observed a peculiar small iron gate in the building's parking lot. Upon further investigation, they uncovered a hidden door behind exterior walls. This hidden space contained 13 fully loaded lockers and was equipped with security cameras.

Tensions rose as the FIA team tried to seize the money, with the building's owner opposing the confiscation and insisting it should stay. The FIA team remained resolute and declined to yield, leading to an escalation. To defuse the situation, the FIA called the police for assistance, and they have since submitted a preliminary report to their superiors.

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