ISLAMABAD – The Federal Investigation Agency (FIA) arrested Axact CEO Shoaib Shaikh on Tuesday evening for his involvement in Axact fake degree scandal.
Shoaib will be presented before a local court in the federal capital.
Previously, a court in Pakistan’s federal capital had awarded a total of 20 years imprisonment to Axact Chief Executive Officer and 24 others each in a fake degree scam case that rocked the country three years ago.
District and Session Judge Mumtaz Hussain had also imposed a fine of Rs0.5 million each on the Axact CEO and 23 other employees for forging for purpose of cheating. The accused were handed down sentences under various charges, amounting to a collective punishment of 20 years each. However, since all the sentences will run concurrently, the maximum time each convict would have to spend in jail is seven years.
Sheikh, as well as the other convicts, were nominated in a First Information Report (FIR) lodged against them on June 7, 2015 under Sections 419, 420, 468, 471, 473, 109/34 of the Pakistan Penal Code and Section 4 of Anti-Money Laundering Act 2010.