Shoaib Shaikh arrested, shifted to Adiala Jail
KARACHI: The Federal Investigation Agency (FIA) on Tuesday arrested Axact’s Chief Executive Officer (CEO) Shoaib Shaikh and brought him to Adiala Jail.
Shoaib Shaikh had been fugitive for a long time. He was sought in a fake degree case and bribery case.
Sources said he surrendered himself to FIA police and later he was formally arrested and shifted to Adiala Jail.
He would be produced before a local court tomorrow.
In July the following year, a district and session court sentenced the IT firm’s CEO and 22 others to seven years in prison in the fake degree scandal case.
Shoaib Shaikh and others were given 3 years and fined Rs0.3 million under sections 419 and 420 of Pakistan Penal Code. They were also sentenced to 7 years each under sections 468 and 471, and fined Rs1 million each.
District and Sessions Judge Islamabad Chaudhry Mumtaz Hussain, however, acquitted three co-accused including Shoaib Shaikh’s wife Ayesha Shoaib, over lack of evidence.
As all the sentences run concurrently, the maximum time each convict had to spend in jail is seven years.
The case dates back to the year 2015, when IT firm 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.