Remand for Axact CEO, eight others extended till June 8

KARACHI: The remand for Axact CEO Shoaib Shaikh and eight others was extended on Thursday till June 8.

According to the investigation officer’s statements in court today, 100,000 fake degrees have been recovered so far after identification from the suspects in remand.

He added that there is yet more recovery and investigation still to be made in the case.

On Wednesday evening, the Federal Investigation Agency (FIA) arrested four more individuals in connection with its ongoing investigation into Axact’s scam.

Those arrested from Karachi on Wednesday included Vice President Imran Ahmed, Associate Vice Presidents Muhammad Rizwan and Adnan Saboor as well as a software engineer Atif Hussain.

The FIA was given a 24-hour remand order by the court for the four Axact employees.

Speaking to Geo News, FIA sources confirmed that headway has been made in the investigation, but added that a large amount of data is yet to be recovered.

The FIA led crackdown against Axact began after a New York Times story exposed the multi-million dollar fake degree scam where the IT company was operating bogus academic institutions and was selling degrees globally.