Fake degrees scam: Investigators continue probe of Axact accounts

KARACHI: Investigators of the Federal Investigation Agency (FIA) on Friday continued their probe of Axact, the Pakistani IT firm accused of reaping millions from selling fake academic degrees online.

According to FIA officials, the investigators are currently auditing the company's bank accounts for international transactions, documents relating to exports and details of money kept in the accounts.

Meanwhile, officials said the process of shifting of fake degrees from the company's headoffice in Karachi was also underway.

---

Customs intelligence raid

On Friday evening, a five-member team of Customs Intelligence officials arrived at the headoffice of the Axact-owned yet-to-be-launched TV channel in Karachi to verify equipment and machinery imported by the group for its media operations.

Earlier the Federal Board of Revenue (FBR) issued a notice to the channel, to produce receipts and airway bills for all equipment it has imported. The notice claims the equipment had been imported illegally.

It has been alleged that the group did not pay taxes and duties on the machinery it has imported for its media outlet.