Axact CEO Shoaib Shaikh reaches SHC to submit protection bail

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KARACHI (Web Deck) – Shoaib Ahmed Shaikh, the founder and chief executive officer of Axact, on Monday reached the Sindh High Court to submit a bail seeking protection from arrest in the fake diploma scandal.

Shoaib Sheikh arrived at the SHC along with his lawyers.

In a report titled “Fake Diplomas, Real Cash: Pakistani Company Axact Reaps Millions” published on May 17, NYT journalist Declan Walsh claimed that Axact allegedly earned millions of dollars from scams involving fake degrees, non-existent online universities and manipulation of customers.

Hours later, the FIA officials raided Axact headquarters in Karachi and other offices, seizing computers and detaining several employees for questioning.

Interior Minister Chaudhry Nisar has also signaled that authorities would contact FBI and Interpol for help with Axact investigation.

On the other hand, Axact strenuously denied the contents of the article.

2015-05-25

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