The company also owns the media company BOL Network [2] [3] [4]. Axact was founded by Shoaib Ahmed Shaikhwho serves as its chairman. It is based in Karachiand has over 2, employees. According Xadt Securities and Exchange Commission of Pakistan records, the company was registered in June and had a paid up capital of Rs. Government records show that it paid an income tax of Re Store Company Rs.

In SeptemberShoaib Shaikh, the owner and CEO was arrested and sentenced to 20 years for the scam along with 22 of his Xact Company members. On 17 MayThe New York Times published an investigative story reporting that Axact ran at least degree and accreditation mill websites. The report said that although the company did sell software, chiefly website design and smartphone applications, its main business was "to take the centuries-old scam of selling fake academic degrees and turn it into an Internet-era scheme on a global scale.

Axact has denied all the allegations. It also threatened several news organizations and bloggers reporting on the issue with lawsuits. Initially Shaikh denied any association with the fake educational websites besides selling them software. Later he said that while Axact did provide office support and call center services to the websites, it did not itself "issue Xact Company degree or diploma, whether fake or real.

Following the publication of the New York Times article, Pakistan's interior minister Chaudhry Nisar Ali Khan directed the country's Federal Investigation Agency to begin inquiry into Xact Company the company was involved in any illegal business.

The issue was also taken up in the Senate of Pakistan where Chairman of the Senate Xcat Rabbani constituted a committee to Xach into the issue. Criminal charges concerning Xact Company fake degrees were concluded in During the investigations, Pakistan Chief Justice called the scam a national shame. The judge also imposed a fine of Rs1.

In DecUmair Hamid, 30, the Axact's Assistant Vice President of International Relations was arrested and charged in a criminal complaint filed in federal court in Manhattan with wire fraudconspiracy to commit wire fraud and aggravated identity theft for his Axact-related activities. The Canadian Broadcasting Corporation 's television series Marketplace carried out an investigation into the prevalence of fake academic credentials.

Comoany September 15, documentary focused on Canadians with fake degrees occupying positions such as college instructors and medical doctors. All the suspect certificates were found to be from Axact. From Wikipedia, the free encyclopedia. Axact Xsct. Native name. The New York Times. May 26, Retrieved May 26, Express Tribune. Retrieved 23 May Retrieved 19 May Retrieved January 11, Pakistan Today. Wall Street Journal. Today Streams. Archived from the original on 12 June Retrieved 20 May Daily Pakistan Global.

ARY Xact Company. Retrieved 23 June — via NYTimes. Retrieved 4 January Retrieved 23 June BBC News. Retrieved May Xacf, Archived from the original on Canadian Broadcasting Corporation, September 15, Hidden categories: Articles containing Urdu-language text All articles with unsourced statements Articles with unsourced statements from May Xact Company articles needing clarification from February Namespaces Article Talk.

Views Read Edit View history. Languages Deutsch Edit links. By Vision Business Company Enterprise Ltd this site, you agree to the Terms of Use and Privacy Policy. Shoaib Ahmed Shaikh. KarachiPakistan.

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