Rs12 billion petrol investment case sees fresh revelations against Adil Ikram

ISLAMABAD: New developments have surfaced in the Rs12 billion petrol investment scandal involving accused Adil Ikram, sources said on Tuesday.

According to sources, the accused was initially on judicial remand at Adiala Jail before being taken to Peshawar by Khyber Pakhtunkhwa police in connection with another case.

Sources further claimed that the accused was later shifted in a bounced cheque case, while questions have emerged in legal circles over the legality and transparency of these transfers.

It is also being reported that Adil Ikram was granted “B-class” facilities in jail earlier, and concerns have now been raised regarding his alleged physical custody for the past two weeks.

Sources said there are also reports of pressure and alleged mistreatment, though no official confirmation has been made.

The case revolves around allegations of a large-scale investment scheme involving petrol pumps, where investors were reportedly shown various fuel stations as profitable “projects.”

According to victims’ claims, petrol pumps in areas such as Gulberg Green, Rawalpindi airport vicinity, Airport Housing Society, Bahria Town, DHA Phase 2 and 5, Taramri, and Police Lines Rawalpindi were presented as part of the investment portfolio.

Sources said investors were initially given regular returns to build trust, but payments later stopped, leading to the exposure of the alleged network.

Investigators are also examining claims of billions of rupees being invested through frontmen and multiple companies linked to the scheme.

Records of more than 20 companies allegedly associated with petrol pump investments are reportedly under review, along with suspected real estate transactions and offshore fund transfers.

The case has raised concerns in administrative circles as investigations continue into possible money laundering and financial irregularities.