Axact CEO, eight other officials remanded in fake degrees case

By: | Published: June 10, 2015 3:15 AM

The chief executive of Axact, Shoaib Ahmed Shaikh, and eight other company officials, have been remanded by a judicial magistrate in a fake degrees and money laundering case.

The chief executive of Axact, Shoaib Ahmed Shaikh, and eight other company officials, have been remanded by a judicial magistrate in a fake degrees and money laundering case.

According to the Dawn, The Federal Investigation Agency (FIA) has detained Viqas Atique, Zeeshan Anwar, Mohammad Sabir, Zeeshan Ahmed, Mohammed Rizwan, Imran Ahmed Khan, Atif Hussain and Adnan Sabur along with the CEO for allegedly preparing and selling fake degrees, diplomas and accreditation certificates of fictitious schools/universities through an online system and illegally minting millions of dollars.

The FIA reproduced them before the court and sought further extension in their custody after the end of their physical remand.

The investigating agency moved an application asking the court to record statements of three key witnesses under Section 164 of the Criminal Procedure Code.

The court announced the date of June 13 to record testimonies of the witnesses in the presence of the suspects.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition