Pakistan

In Islamabad: FIA arrests 17 more Axact executives

Case is registered against them, including CEO Shoaib Shaikh

News Desk June 08, 2015

17 executives of the Axact Islamabad zone and registered a case against its CEO Shoaib Ahmed Shaikh, his wife Ayesha Shaikh, regional directors, mangers and operators over their involvement in issuing fake degrees. PHOTO: THE NEW YORK TIMES

The Federal Investigation Agency (FIA) has arrested 17 executives of the Axact Islamabad zone and registered a case against its CEO Shoaib Ahmed Shaikh, his wife Ayesha Shaikh, regional directors, managers and operators over their involvement in issuing fake degrees, doing fraud and money laundering.

According to the FIA, once the physical remand period of Shaoib Shaikh by the Karachi team is completed, the Islamabad FIA will arrest him and will request a physical remand in Islamabad case.

The investigators said the accused represented fake local and international educational institutions and issued them fake degrees. They are also accused of money laundering.

The accused include Assistant Vice-President Sales Qasim bin Masood, Assistant Vice-President Haider Farooq, Senior Architects Sajjad Haider, Rizwan Shah, Aafeeq Ahmed, Ibadat Zaki and Izhar Tanveer.

Director FIA Islamabad Zone Inam Ghani said that elaborate investigations were underway, adding that raids were being conducted for the arrest of other nominated accused.

(TRANSLATION BY ARSHAD SHAHEEN)

Published in The Express Tribune, June 8^th, 2015.

COMMENTS (8)

Ahmed Afzal | 9 years ago | Reply @Zahir: thats rubbish, no one can stop anyone from legitimate IT business, you must be an ex Axactian, I hate Indians more than anyone myself, but in this case this scumbag Shoaib Shaikh and his wife have caused Pakistan serious damage. This is the same as that other fraud Abdul Qadeer Khan who was caught selling Nuclear secrets to Iran and Libya. Problem is retarded people who still believe and support this filth in our society, Abdul Qadeer has made his family millionaires, and this Shoaib character who has no education but pure greed is from the same DNA.... They need to be hanged and not praised.

Ashraf | 9 years ago | Reply @Zahir: Indians were afraid of Axact's fake degrees? What did Axact accomplish that Indians had to feel jealous about? Can you please elaborate? Don't blame others unless there is substance to it.

VIEW MORE COMMENTS

bashir | 9 years ago | Reply Zahir, if Axact is Pakistans representation of a leading IT company then the country is doomed. Axact has zero real business customers, just scams and frauds. How you can defend such criminal acts is shocking. You obviously have no morals and respect for the law. Hopefully all the guilty will be brought swift and severe justice.

Mariam | 9 years ago | Reply Axact has indeed committed a major crime. Check out the universities mentioned

saads | 9 years ago | Reply what about money laundering by Ayyan which was true to it sense. this axact case doesnt look like money laundering at all. there will be no impact on Ayyan because some big hands are protecting her where as this man will be arrested because he was giving employment to more than 5000 pakistanis. what a shame.

Brainer | 9 years ago | Reply @Zahir: Come on , don't blame everything in India. It's your own people faults. First correct them then talk..

Imran | 9 years ago | Reply Please correct the spelling of Managers.

Zahir | 9 years ago | Reply Indian IT industry is behind the New York Times article, they are afraid of Pakistan IT talents - which given an opportunity will leave Indian IT industry in dust, India don't want a competition for them in IT industry - that is the reason they have now destroyed the reputation of world's leading IT company Axact reputation by false story and our law enforcing agency also forced to believe the Indian's hidden agenda, it's the time for all patriotic Pakistanis to stand behind our leading IT company Axact because they have a clear cut vision to develop Pakistan.

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