A case was filed by the Federal Investigation Agency (FIA) against the Axact CEO Shoaib Sheikh accusing him of sending Rs.270 million to Dubai through the illegal hundi system.
However, the court, after hearing FIA officials, declared all charges against the accused, null and void.
On August 15, the Axact CEO and 13 others were granted bail in fake degrees case by the Sindh High Court.
Justice Iqbal Kalhoro approved the bail plea against a surety bond of Rs500,000 each after hearing arguments from both parties.
The Axact scandal surfaced in May last year when The New York Times published a report that claimed the company sold fake diplomas and degrees online through hundreds of fictitious schools, making “tens of millions of dollars annually”.
At the time of his arrest, Sheikh was planning to launch a private television channel and had recruited journalists and supporting staff for it. During the course of arguments before ADSJ Memon, Raja Rizwan Abbasi, the counsel for the Axact CEO, maintained that the Federal Investigation Agency (FIA) could not produce any substantial evidence against the accused.
Now a district and sessions judge in Islamabad, confessed to taking a bribe in the Axact fake degree case and acquitting Shoaib Sheikh in return.
According to a show-cause notice issued, Judge Pervaiz-ul-Qadir Memon of the District and Sessions Court admitted to taking a bribe from Axact CEO Shoaib Sheikh in the Axact fake degree case and acquitting him in return on 31st October 2016.
As per the show-cause notice, Pervaiz-ul-Qadir admitted to taking the bribe in front of the Promotion Committee.
Proceedings of the case will be conducted tomorrow as judge Pervaiz-ul-Qadir has been suspended. A response has been sought from the judge by the end of 14 days.