Axact CEO Shoaib Shaikh Granted Bail After 15 Months in Custody

Today the Sindh High Court (SHC) granted bail to the Axact Chief Executive Officer (CEO) Shoaib Shaikh including 13 other people in fake degrees case. Axact CEO Shoaib Shaikh Granted Bail After 15 Months in Custody.

Justice Iqbal Kalhoro has approved his bail plea after signing a a surety bond of Rs. 500,000 each after hearing arguments from both parties.

Axact CEO Shoaib Shaikh Granted Bail After 15 Months in Custody

Lawyer for Axact, Shaukat Hayat said during the case hearing 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 also claimed that:

“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 scandal of Axact company appeared on screen in May, 2015 when “The New York Times” published a report against it claiming that the company sold fake degrees and diplomas online through illegal means.

The IT company Axact based in Pakistan was sometime back also accused of promoting pornographic content that also did not find any grounds for it illegality or wrong doing. The IT Company boost its revenue from the products that it sell globally and ranges from ERP, CRM, Content, HRM, Finance, Payroll and quite a few others including education. It would have made a lot of sense if NYT and others would have investigated the authenticity of these products that doesn’t fare well in their investigative report.

Let’s see what next we hear about this case as the CEO is no more behind bars.

 Also Read our exclusive story on Axact: The Axact Story: Industrial Espionage, Conspiracy or a Reality?
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