|Name Shoaib Shaikh|
Spouse Ayesha Shaikh
|Residence Karachi, Pakistan|
|Full Name Shoaib Ahmed Shaikh|
Occupation CEO and Chairman at Axact, BOL Network
Organizations founded BOL Network
Similar Sultana Siddiqui, Sikandar Sultan, Hussain Dawood
Axact fake degree fraud new york time shoaib ahmed shaikh
Shoaib Ahmed Shaikh is the CEO and chairman of the BOL Network, a private media house and Axact, a software company based in Karachi. He was arrested on May 27, 2015 after the May 17th edition of The New York Times published an in-depth report exposing the fake degree business. Subsequently Axact was sealed on May 28, 2015 and the Information ministry requested PEMRA to close down BOL.
- Axact fake degree fraud new york time shoaib ahmed shaikh
- Shoaib ahmed shaikh explains the vision and philosophy of bol bol news
- Bail granted
Shaikh is currently on bail (since September 2, 2016), the case filed against him on the charges of alleged fraud, extortion, and money laundering, is still in court. Along with four other members of BOL and Axact management, he has stated that they would challenge the decision of the District and Sessions court in superior court.
Shoaib ahmed shaikh explains the vision and philosophy of bol bol news
Following the publication of the New York Times article, Pakistan's Interior Minister Chaudhry Nisar Ali Khan directed the country's Federal Investigation Agency to begin inquiry into whether the company was involved in any legal business. Following the interior minister’s order, cyber crime team of FIA raided Axact’s office in Karachi and Islamabad and seized computers, recorded statements of employees as well taking into custody 25 employees of the company and 28 employees from Rawalpindi office. The FIA team found and seized several blank degrees as well as fake letterhead of the US State Department. The investigation was transferred from the FIA's cyber crime department to its corporate department. The issue was also taken up in Senate of Pakistan where Chairman of the Senate Raza Rabbani constituted a committee to probe into the issue. Pakistan's tax authorities and the SECP also initiated investigations into the company..
On May 26, 2015, Federal Investigation Agency arrested Shoaib Ahmed Shaikh for investigation. The case was filed against him on May 27, 2015 in Karachi, Pakistan.
After almost 14 months Shoaib Ahmed Shaikh and 13 other management officials of Axact were granted bail by the SHC on the basis of 5 Lakh each surety bonds. They are now on bail On 2 September 2016 court released Shoaib Shaikh on bail.
Shaikh holds a Saint Kitts and Nevis passport, which he acquired through the country's citizenship-by-investment program.