Shoaib Ahmed Shaikh

Shoaib Ahmed Shaikh is the CEO and chairman of the BOL Network and Axact.

Arrest

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 whether the company was involved in any illegal business. Following the interior minister’s order, cyber crime team of FIA raided Axact’s office in Karachi and Islamabad and seized computers, recorded statements of employees as well taking into custody 25 employees of the company and 28 employes from Rawalpindi office. The FIA team found and seized several blank degrees as well as fake letterhead of the US State Department. The investigation was transferred from the FIA's cyber crime department to its corporate department. The issue was also taken up in Senate of Pakistan where Chairman of the Senate Raza Rabbani constituted a committee to probe into the issue. Pakistan's tax authorities and the SECP also initiated investigations into the company.However still there are no proves submitted in court against the said accusations.^[1]

On May 26, 2015, Federal Investigation Agency arrested Shoaib Ahmed Shaikh for investigation. The case was filed against him on May 27, 2015 in Karachi, Pakistan.^[2][3]

He is planning to educate 10 Million children of Pakistan (free of cost) through SED Axact and as well aiming to give employment up to Sixty thousand Pakistanis through Gal Axact by the year 2019. Currently the minimum pay offered in Axact is $475/month (PKR50000).^[4]

References