Axact CEO Granted Bail by Islamabad High Court As Well

Axact CEO Shoaib Sheikh and Manager Operations of Axact Viqas Atique have been granted bail by, Pervez ul Qadir Memon, Additional Districts and Session Judge Islamabad, on the fake degrees case. The duo were arrested last year in May.

Sindh High Court’s Bail

Sindh High Court (SHC) recently acquitted Axact CEO in the money laundering case due to lack of evidence. Prior to that, SHC also granted bail to the CEO and 14 other employees of BOL media a couple of weeks ago. FIA did not want their bail to be granted but the Sindh High Court decided against FIA and granted bail the BOL employees, Axact CEO Shoaib Sheikh and Manager Operations Viqas Atique bail for their arrest.

Read More: Sindh High Court Acquits Axact CEO of Money Laundering Charges

Arrest and Charges

Axact CEO was arrested on May 27th 2015 along with the senior manager. 13 other Axact and Bol employees were taken into custody.  This time the bail was granted in Islamabad court for only Rs. 20,000 surety bonds. In comparison, Sindh High Court had granted bail for surety bonds of Rs. 500,000.

FIA argues that it had recovered evidence for bogus degrees and their issuance from Axact’s servers and had enough proof to indict them.

Read More: Inside Out of The Axact Case

Case History

This all started when New York Times published a report in May 2015 about Axact. It mentioned how the company made millions of dollars by selling fake degrees and diplomas. The schools and universities mentioned in those degrees were also fake. FIA quickly arrested the Axact CEO and other BOL media employees, with company data and servers taken later for forensic investigation.

A techie, Overwatch and Street Fighter enthusiast, and Editor at ProPakistani.

  • Axact and BOL are innocent. That story was fake. Shoaib Sheikh and Viqas Attique are innocent. Police and LEAs can arrest any persons not more than 14 days and they were behind bars more than year… New York Times, Pakistani Media and ProPk are behind this all story. How you are assured that new york times can’t speak lie… Finally truth prevails… BOL ko bolnay do….

  • Agar Toheen a Adalat Na ho to ………
    Surprise to see Bail from two high court simultaneously
    Its mean all of sudden both judge decided to grant Bail …………
    and this happend after 18 month
    salute to Mr. Shoib and companion for their courage

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