ISLAMABAD – The Federal Investigation Agency (FIA) has arrested Shoaib Shaikh, co-chairman of BOL News channel and Axact CEO, for avoiding investigation in a case of allegedly bribing a judge for his acquittal, it emerged on Thursday.
Reports said the investigation agency has summoned Shaikh to join investigation but he didn’t pay heed and now he has been taken into custody from Islamabad.
He has been accused of giving Rs5 million in bribe to former additional sessions judge Pervaiz Qadir Memon for acquittal in the fake degree case. The judge was termed by the Islamabad High Court after he confessed to the crime. The court then directed the FIA to probe the person who bribed Memon.
Pervaizul Qadir Memon had acquitted Shaikh and others in the fake degrees case on October 31, 2016. However, the acquittal was overturned by the IHC in April 2018.
The issue of Axact made headlines across international media in 2015 when a New York Times report outlined how the company had allegedly earned millions of dollars from ‘scams involving fake degrees, non-existent online universities and manipulation of customers’.
Shoaib Shaikh and six directors of Axact were detained by FIA officials on May 27, 2015, when thousands of fake degrees had been allegedly recovered from the company’s offices during a raid.
However, Mr Shaikh has denied the allegations.
IHC overturns acquittal of Axact CEO Shoaib Shaikh in fake degrees case
