CEO Axact Shoaib Shaikh expected to get Bail
KARACHI: The Chief Executive Officer (CEO) Axact Shoaib Shaikh expected to get bail from the Sindh High Court (SHC) today including 13 others in the fake degrees case.
The plea is likely to be approved against a surety bond of PKR 500,000 each after hearing session.
All those likely to get bail in the case have been in custody for the past 15 months.
Lawyer for Axact, Shaukat Hayat, regarding the case was on opinion that the Federal Investigation Agency (FIA) and the prosecution had been employing delaying tactics, pointing out that the accused have not been indicted thus far – despite a lapse of 15 months.
Hayat claimed there had been no headway in the case to legitimise his stance that the accused were entitled for bail, especially since his clients had no criminal record or allegations of involvement in terrorism.
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.
Published by : Owais Ishaq