Axact CEO Shoaib Shaikh granted bail

KARACHI: The Sindh High Court (SHC) on Monday granted bail to the Chief Executive Officer (CEO) of Pakistan’s top-most IT firm Axact, and 13 others in the fake degrees case. According to details, SHC Judge Justice Iqbal Kalhoro approved the bail plea of Shoaib Shaikh against a surety bond of Rs500,000 after hearing arguments from both parties. Lawyer of Shoaib Shaikh argued during the hearing that the prosecution and Federal Investigation Agency (FIA) had been using delaying tactics and that the accused have not been indicted thus far – despite a lapse of 15 months. The Axact scandal surfaced in May last year when The New York Times published a report that claimed the company sold fake diplomas and degrees online through hundreds of fictitious schools, making “tens of millions of dollars annually”. In February, FIA counsel Shahab Usto had admitted that the Federal Investigation Agency (FIA) does not possess any direct evidence against the IT firm. SHC censured FIA and said that since FIA does not have the direct evidences against the respondent then why FIA is wasting the time of court by presenting old tools and stories rather than presenting charge sheet as victims already suffered a plethora of

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Source: News Pakistan

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