June 09, 2016
KARACHI - A bail application of Axact and BOL CEO Shoaib Shaikh (pictured) and four others was rejected Thursday by a court much to the disappointment of staff and their supporters.
The bail plea was rejected by District and Sessions Judge Karachi South, Sohail Mohammad Leghari. Insiders at BOL told JournalismPakistan.com the decision would be challenged in the Sindh High Court.
Shaikh and four of his senior managers have been languishing in jail for more than a year now after a New York Times story claimed Axact, the parent organization of BOL News, was involved in selling fake degrees worldwide.
However, it is widely believed a conspiracy was hatched against BOL by some top news organizations that felt threatened by the channel's financial might and its claims of taking the Pakistani media industry by storm.
The Express Tribune, April 3, 2019
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