Axact scam: FIA unearths Shoaib Shaikh’s seven offshore companies

KARACHI: The Federal Investigation Agency (FIA) has, during its probe into the Axact scandal, unearthed seven offshore companies that were being run by Shoaib Shaikh.

According to FIA sources, the agency during the forensic inspection of the data retrieved from Axact’s computers seized by the authorities earlier has ascertained that the offices of these companies were based in US, UK, Lebanon and Ghana.

It was at these offices where the international students used to submit various types of fees online.

The FIA has also tracked down the printing press where they printed degrees for Axact. During a raid on this printing press, the FIA seized a die stamp, printing plates and other types of stamps used for printing Axact’s degrees.

This printing press had been engaged in degree printing job for Axact for the past eight years.

Meanwhile, even after a lapse of four days, the management of Axact’s TV channel had failed to produce documents authenticating import of its machinery.

Director Customs Intelligence, Asif Marghoob Siddiqui, says the channel’s administration does not posses legal documents corroborating its imports. It has also failed to provide proof for tax payments, he added.