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FIA detains Axact CEO Shoaib Shaikh in fake degree scam


KARACHI: Late on Tuesday night, Chief Executive Officer (CEO) of Axact, Shoiab Ahmad Shaikh has been detained by FIA, as company Axact is alleged of providing fake degrees.


As the probe is going on, CEO Axact visits FIA head office Karachi along with his 6 directors of the company, early on Tuesday. After a long session of investigation, Shoiab along with his team left the FIA office in evening. Shoiab Shaikh, also appeared before FIA on Monday to record his statement on the allegation raised against him and his company.

Sources, also claim that draft of First Information Report (FIR) is also prepared which includes sanctions like money laundering and cyber crime.


Late on Monday, he was questioned for bringing equipment for his ‘BOL Tv Network’ from abroad, not through proper channel. He was asked to provide the papers and proofs of the equipment.

DG FIA Shahid Hayat and investigation unit led by DSP Amir Hameed arrived at the Axact in Karachi.

DG Shahid Hayat briefing about the case told, “We received information on where Axact’s printing operation was taking place. The office was opened ion the presence of the magistrate and degrees and student ID cards were found in the hundreds of thousands.”

He further told that case is registered against CEO Axact Shoiab Shaikh.

On Wednesday, mandatory forensic report of computers taken in custody from Axact is also expected to be completed.


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