Bail pleas of Axact CEO Shoaib Shaikh, others rejected

KARACHI: The court of the Additional District and Sessions Judge (East) rejected the bail pleas of CEO Shoaib A Shaikh and eight employees of Axact allegedly involved in cases pertaining to charges of Axact fake degree scam.

The defence counsel argued that the accused had been in detention for the last one year, and there was no chance of any development in the case. Hence it was fair to release the accused on bail.

The court of Additional District and Sessions Judge (East) rejected the stance, observing that the accused did not deserve to be released due to their statements recorded under Section 161 of the Criminal Procedure Code. The court rejected the bail pleas of Axact CEO Shoaib Shaikh, Muhammad Sabir, Waqas, Ateeq, Zeeshan Ahmed, Zeeshan Anwar and others.

On June 7, the FIA registered another FIR against Shoaib Shaikh, Aisha Shaikh, Vaqas Atiq and others. The charges include fraud, fake identification and money-laundering. A total of 17 directors, managers and operators of Axact’s Islamabad Region were arrested on the same charges. 

The Axact CEO was handed over to the Islamabad FIA for an interrogation and later brought back to Karachi.  He, along with the other accused, is on judicial remand.