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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: 3, Informative) by frojack on Friday May 29 2015, @02:47AM
Oh they have a nice web site, fully detailed except for specifying exactly where they are, who teaches there, exactly what they teach.
If I called to check your credentials I'm sure they would verify you passed everything with flying colors, just as you claimed. Wouldn't want to have any one look too closely at the fact that they appear to be houses in a muffler repair shop.
No, you are mistaken. I've always had this sig.
(Score: 2) by MichaelDavidCrawford on Friday May 29 2015, @03:10AM
while caltech had a website in 1998, I expect Oxdell did not.
Yes I Have No Bananas. [gofundme.com]
(Score: 0) by Anonymous Coward on Friday May 29 2015, @05:46AM
Yes, but those who actually teach stuff, they of course are being paid way too much, and we have to enforce a standardized curriculum with standardized student learning outcomes because the idiots who quit teaching to go into administration are not intelligent enough to recognize when education takes place, or even what it is, so they need a metric, like thousands of dollars per fake degree granted! Hey, that would work? Then we could fire all the faculty, not have to deal with actual students, and it would just be Administrators and groundskeepers, the way God intended Higher Education to be. Finis.