October 31, 2016
ISLAMABAD – An additional sessions judge Monday dismissed a fake degrees case against software company Axact for lack of enough evidence.
The 26 accused in the case including the company’s CEO Shoaib Ahmed Shaikh, were all acquitted.
Shaikh, is also the head of BOL Media Group that is likely to launch BOL News Television before the year-end.
Judge Abdul Qadir Memon had reserved a decision in the case on October 20 after hearing the legal counsels representing Axact and the Federal Investigation Agency (FIA).
Advocate Rizwan Abbasi, representing Axact contended the case against his clients was a conspiracy and based on ill-intention. He named Geo, The Express Tribune, and Indian agents as being involved in this conspiracy.
He told the court that the conspiracy had been hatched against Axact to stop BOL News going on air and alleged Express Tribune owner Sultan Lakhani had a hand in this.
The case surfaced in May 2015 following the publication of a story in The New York Times that claimed a fake degree selling business was providing fuel to BOL.
Subsequently, Shaikh and several of his senior team members were arrested. They languished in jail for 15 months before being granted bail.
The News, March 15, 2018