Hearing of money laundering case against Axact chief put back
JournalismPakistan.com | Published: 18 August 2016
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Shoaib Ahmad Shaikh, CEO of Axact, has had his money laundering case hearing rescheduled to August 23. The Federal Investigation Agency accuses him of transferring Rs170m abroad while he remains under arrest.Summary
KARACHI – A sessions court has put back until August 23, a hearing into Rs170m money laundering case involving CEO of Axact, Shoaib Ahmad Shaikh.
This was done on the request of Shaikh, also the boss of BOL Media Group, who remains under arrest. He had made the plea the case be wrapped up. Two other accused are on bail.
The Federal Investigation Agency (FIA) claims Shaikh and two of his accomplices are involved in illegally transferring Rs170m abroad.
The case is being heard in the court of Additional and Sessions Judge (South).
Meanwhile, earlier this week, the Sindh High Court granted bail to Shaikh and 13 others in a case relating to alleged selling of fake degrees.
KEY POINTS:
- Hearing postponed to August 23.
- Shoaib Ahmad Shaikh remains in custody.
- Two other accused are on bail.
- FIA alleges illegal transfer of Rs170m.
- Sindh High Court recently granted bail in a related fake degree case.
