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Court grants FIA access to 34 bank accounts of Axact

KARACHI: The district and sessions court on Friday granted the Federal Investigation Agency access to 34 bank accounts of Axact, which is currently under probe over fake degrees scam, ARY News reported.

The investigators carried out raids on the IT company on May 19 accused of running a global fake degree empire, confiscating computers and holding employees for questioning as the scandal deepened.

The Deputy Director of FIA Saeed Ahmed Memon had filed an appeal with the court, seeking access to bank accounts of Axact as part of an ongoing investigation. His requested was granted by the district sessions judge South for access to bank accounts of the firm.

All the 34 accounts are linked with four private banks.

Axact was accused by the New York Times of running a network of hundreds of websites for phoney universities complete with paid actors for promotional videos, as part of an elaborate scheme that generated tens of millions of dollars annually. The revelations prompted Pakistani government to investigate the scandal.

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