KARACHI: Shoaib Shaikh, Axact Chief Executive Officer and Viqas Atiq, Chief Operating Officer along with five other suspects have been sent on physical remand until June 7, on Wednesday, Aaj News reported
Saeed Memon, Investigation officer presented the suspects in the court of Noor Mohammad, judicial magistrate who remanded them into Federal Investigation Agency custody for further investigation. The FIA informed the court that over two containers full of blank diplomas were recovered from the Axact offices.
The court ordered Memon to present the initial discoveries of his investigation on June 4 and a complete report on June 7.
The Federal Investigation Agency took the Axact CEO into custody earlier this morning and lodged a fraud, forgery and money laundering case against him. A first investigation report was filed under sections 468, 470, 472, 473 and 474 of the Pakistan Penal Code related to forgery and fraud. The case also includes Electronic Cyber Crime sections 36 and 37 and sections 3 and 4 related to money laundering.
The arrest followed a late-night raid on the offices of Axact on Khayaban-e-Ittehad in DHA, where thousands of fake degrees were found from the company’s headquarters.
Shortly after the raid, Shaikh was taken into custody and shifted to the FIA for questioning.
Axact CEO in FIA custody
Shoaib Ahmed Shaikh, Chief Executive Officer CEO) of Axact was arrested by Federal Investigation Agency and an FIR has been registered against him in connection with ongoing fake degree scam.
Kamran Ataullah, Deputy Director of FIA said that Shaikh will be presented in court on May 28, Wednesday.
Shahid Hayat, Director General FIA Sindh and Special Investigation Unit led by Amir Hameed, deputy super-intendant police detained Shaikh in an overnight raid on Axact’s office in Karachi. Shaikh, was confined in the human trafficking cell at FIA’s headquarters in Karachi.
The FIR launched against Shaikh includes accusation of cyber crime and forgery.
Seven Directors of Axact, including Viqas Atiq, Vice Chairman & Co – Founder of Axact have also been taken into custody by the FIA.
Shaikh was probe by the FIA regarding the issuance of fake degrees and various bank accounts for two days. Shaikh was summoned at the FIA headquarters on Tuesday morning.