SBP warns of higher inflation next fiscal year. A number of senior journalists and TV anchors who were lured to join Bol found themselves in a tricky and complicated situation where they had no choice other than to accept this sudden change, and forget about their appearance on the great launch of a channel that was supposed to bring revolutionary changes in media industry. Retrieved from ” https: They were also threatened to keep quiet by the management of Exact. Must be given fines only, too much for this crime. The spectacular crash of Shoaib Shaikh’s digital empire.

Just 7 years jail term seems lenient when they squandered millions from public. Even the evidence provided by the Indian government was found insufficient to take any action against the banned outfits that were accused to have their role in the attack. Might even be released early due to good behavior. All it needs is a different prosecution method that is least harmful to innocent people. Pakistani Company Axact Reaps Millions”. Axact has denied all the allegations. Axact case, again Editorial January 21,

The matter must be urgently addressed if Pakistan wants to avoid further humiliation on the international stage.

Op-Ed The Axact case. PM okays appointment of 18 ambassadors. Hopefully, this punishment will show the world that Pakistan is serious about taking care of frauds and dishonesty.

Case study of Axact by Syed Naqvi on Prezi

SBP warns of higher aact next fiscal year. Government records show that it paid an income tax of approximately Rs. The report said that although the company did sell software, chiefly website design and smartphone applications, its main business was “to take the centuries-old scam of selling fake academic degrees and turn it into an Internet-era scheme on a global scale.


Media related to Axact at Wikimedia Commons. He should have been made an example of. The devastating affect of fake degrees will leave a long duration in places wherever they got acceptance. The 23 convicts were sentenced to: It should have been 99 years plus confiscation of all assets. For 15 months, the accused persons in this case suffered hardship of imprisonment besides going through mental torture and agony for a case that had no proof and no complainant. He might want to study the case documents of the New York court where Stkdy Hamid said he was a senior vice president of the company axzct pleading guilty.

They were part of the conspiracy for distributing fake etudy. In addition to reparations to the maximum students they connedlet all their assets be at once sold and proceeds distributed among affected students.

Syed Ashfaq Naqvi, the special prosecutor for FIA, argued that the software company sold fictitious degrees to different people in Pakistan and abroad and brought a bad name to the axach. Skip to primary navigation Skip to content Skip to primary sidebar Skip to footer. All these claims and allegations turned into hearsay when the court of law ordered the release of Shaikh and his team in the fake degree atudy money laundering cases.

The illicit money they made should be recovered too.

Axact case, again – Newspaper –

Got convinced about the system when I saw Dr Asim Hussain coming out of prison!!! Stuxy past history is exactly opposite of what they exhibited in this case.


Dollar climbs to Rs Sorry to say – this judgement is too harsh compare to the crime. Later he said that while Axact did provide office support and call center services to the websites, it did not itself “issue any degree or diploma, whether fake or real.

axact case study

This is a joke, a mild punishment given the extent of the crimes and damage to Pakistan’s repute globally. It also threatened several news organizations and bloggers reporting on the issue with lawsuits. The prosecution failed to prove the offences under Casr 36 and 37 of the Electronic Transaction Ordinance, and Section 4 of the Anti-Money Laundering Acthence the accused were acquitted of these charges. By using this site, you agree to the Terms of Use and Privacy Policy.

The Axact case

Just 7 years jail term seems lenient when they squandered millions from public. Please support us by taking a moment to turn off Adblock on Dawn. Views Read Edit View history. The CEO of the company, Shoaib Shaikh, and 13 top management officials were sent behind the bars, and all offices of the company and its affiliates like the Bol TV channel were sealed, leaving more wxact 2, employees out of job, making their families fear an uncertain future.

axact case study

Are you kidding me. Retrieved 19 May