SHC grants bail to Axact CEO

Updated about Aug 16, 2016

KARACHI: A single bench of the Sindh High Court (SHC) on Monday granted bail to the Chief Executive Officer (CEO) of Axact, and BOL media group, Shoaib Shaikh and 14 others in the fake degrees case.

Justice Iqbal Kalhoro of the SHC granted bail to the accused, who have been in custody for last 15 months,   against a surety bond of Rs500,000 each after hearing arguments from both parties.

The counsel for Axact group, Shaukat Hayat, pleaded that the Federal Investigation Agency (FIA) and the prosecution had been employing delaying tactics, due to which, he added, the  accused could not be indicted despite a lapse of 15 months.

He further submitted that  the accused were entitled for bail as they  had no criminal record or allegations of involvement in terrorism.

The whistleblower Axact scandal surfaced in May last year when The New York Times published a report claiming the company sold fake diplomas and degrees online through hundreds of fictitious schools, making “tens of millions of dollars annually”.
The allegations subsequently led to the sealing of the offices of Axact and BOL TV channel, and their  CEO and other key officials were arrested,