Sohaib Ahmed Sheikh, CEO of Axact and seven other directors of the company were taken into custody late night by Federal Investigation Agency from Axact office in Karachi.
Decisive action was taken when FIA raided Axact’s office and found a large pile of university degrees, identification cards of students.
Axact office and officials were being questioned by FIA for over a week now for allegedly selling fake degrees of schools that don’t exist at all. Axact had denied all the allegations levelled by NYT.
FIA, after finding sufficient evidence had reportedly decided to file case against Axact and the officials.
Also Read: Inside out of Axact Case
Axact maintains that it works as back-office for universities abroad that are legal and legitimate in their respective jurisdiction. Axact’s CEO, in a message before he was taken into custody, said that Axact isn’t involved in any illegal activity and it is just offering back-office services, such as cell centre and others, for partner universities across the world.
Action against Axact was triggered last week when Ch. Nisar Ali Khan, Minister Interior asked FIA to investigate Axact for selling fake degrees. New York Times had alleged Axact for selling fake degrees, worth millions of dollars, to students across the world.
New York Times had alleged that Axact was operating some 370 school and universities that don’t exist anywhere other than the paper. Students were granted professional degrees without instituting but based on their life experiences.
Following Nisar’s orders, FIA had raided Axact’s Islamabad and Karachi office and had confiscated a notable number of computers, servers.
Shoaib Sheikh, CEO Axact, was presented in a Karachi court today, where FIA was granted physical remand for CEO of the company till June 4th, 2015. An FIR was also registered against the company for selling fake degrees.