Axact CEO Shoaib Shaikh conceded safeguard following 15 months in authority

Axact CEO Shoaib Shaikh conceded safeguard following 15 months in authority

Axact CEO Shoaib Shaikh granted bail after 15 months in custody
KARACHI: The Sindh High Court (SHC) on Monday conceded safeguard to Axact Chief Executive Officer (CEO) Shoaib Shaikh and 13 others in the fake degrees case. 
Equity Iqbal Kalhoro endorsed the safeguard request against a surety obligation of Rs500,000 each subsequent to listening to contentions from both sides. 
Each one of those conceded safeguard for the situation have been in authority for as far back as 15 months. 
Legal advisor for Axact, Shaukat Hayat, contended amid the listening to that the Federal Investigation Agency (FIA) and the arraignment had been utilizing postponing strategies, calling attention to that the denounced have not been prosecuted so far – regardless of a failure of 15 months. 
Hayat guaranteed there had been no progress for the situation to legitimize his position that the blamed were entitled for safeguard, particularly since his customers had no criminal record or affirmations of association in terrorism. 
The Axact embarrassment surfaced in May a year ago when The New York Times distributed a report that asserted the organization sold fake recognitions and degrees online through many imaginary schools, making “countless dollars every year”. In this way the workplaces of Axact were fixed, its CEO and key authorities were captured and a test was dispatched on the premise of the assertions leveled by NYT.
Updated: August 15, 2016 — 9:41 am

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