KARACHI (Staff Report) – A local court in Karachi on Wednesday handed over Axact CEO Shoaib Shaikh to Federal Investigation Authority (FIA) on a physical remand till June 4, reported local media.
FIA officials, according to the details, presented Axact CEO along with other five company executives ‘handcuffed’ before the court to seek his 14-day physical remand to complete the investigation under an FIR registered against him. The personnel have recovered solid evidences against the accused and FIA needs more time to thoroughly look into these documents, the officials told the judge.
The judge however rejected the request of FIA authorities while ordering to reproduce the accused on June 4 along with the initial investigation report. FIA must not torture or harass any of those handed over on physical remand, the judge further added.
Earlier FIA authorities had registered an FIR against Shoaib Shaikh under sections 420, 472, 473, 474, 109, 768 of Pakistan penal code that dealt with charges of fraud, cyber crimes and money laundering after taking him into custody on Tuesday night.
FIA launched an in-depth interrogation into the fake degrees scam of Axact after New York Times published a detailed news story exposing the shady business of Pakistan’s leading IT company.
