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Ten days after the International New York Times published Fake Diplomas, Real Cash: Pakistani Company Axact Reaps Millions, The BBC reports that Axact's CEO, Shoaib Ahmed Shaikh and four other executives have been arrested. According to today's NY Times article, "'[they] were initially charged with fraud, forgery and illegal electronic money transfers', law enforcement officials said. The charges were later expanded to include money laundering and violating Pakistan's electronic crimes act."
Axact CEO Shaikh had initially denied the charges, but after hours of questioning he led investigators to a building next to Axact's headquarters. "Inside they found a room filled with blank certificates bearing the letterheads of dozens of fake universities and high schools operated by Axact under names like Bay View, Cambell State, Oxdell and Nixon." Apparently this has been bringing several millions of dollars a month of revenue into Axact, a company that has claimed until now to be Pakistan's largest software export company.
Axact was also on the cusp of launching a new media giant, Bol. Bol has hired several leading journalists at three to four times normal salaries. According to the linked BBC article, there is some speculation that the Axact scandal gained additional traction at this moment due to rival networks wanting to stop Bol from providing competition.
[Editor's Comment: Original Submission]
(Score: 1) by Ethanol-fueled on Friday May 29 2015, @01:50AM
Doctor Hunter S. Thompson, who stood on the shoulders of many giants such as Francis Scott Key, [wikipedia.org] attained his doctorate from the Universal Life Church. [wikipedia.org] One of the goals of which is, "A fuller life for everyone."
But when you're talking some dirka-dirka shithole across the globe, one with a literary history more about beheadings and rape rather than the subtle yet complexes of the psychopathologies of everyday Western lives, it stands to reason that anything for-profit there should be shut-down. And that includes Bin Laden's sabattical and his neighbor's lucrative opium trade which is flourishing thanks to the CIA and their enablers in the American military.
(Score: 0) by Anonymous Coward on Friday May 29 2015, @02:23AM
Those countries would be nothing but a shithole if they didn't have any oil.
(Score: 2, Touché) by CortoMaltese on Friday May 29 2015, @02:36AM
one with a literary history more about beheadings and rape
America? or was that lynchings and rape?
(Score: 2) by Gravis on Saturday May 30 2015, @12:45AM
one with a literary history more about beheadings and rape
America? or was that lynchings and rape?
to be fair, America has changed but Pakistan is still entrenched in such ugliness. violent crime is at a historic low in the US. the US isn't perfect but it's world's away from Pakistan.