Axact is the leading Pakistani IT company, it is technology oriented, fast-driven and mission oriented organization. Here is the catch in the perfect scenario, the company also runs various websites that sell fake academic degree. A huge scandal of the company went on in relation to the fake degree issue and the news is back on as the Assistant Vice President of Axact Umair Hamid is jailed for 21 months along with a fine of $5,303,020. He was pleaded guilty in the Axact fake degree Scam.
Umair Hamid started working in Axact in the year 2006. Since then he made his way up to the top management. He came to the US after escaping fine & punishment in Pakistan. In the USA he was first accused of $140 million scams and has now been proven guilty for controlling the companies that offer fake degrees to individuals. Hamid has agreed to pay the fine.
US Attorney said on this issue “Operating from Pakistan, Umair Hamid helped fraudulently rake in millions of dollars from unwitting American consumers who paid to enroll in, and get degrees from, high schools and colleges that did not exist. As a result of his fraud, people who thought they were investing in an education received nothing more than worthless diplomas and a harsh lesson in the worldwide reach of deceit.”
It was in the year 2005 that New York Times exposed that fake degree scam by Axact. After that Pakistan government ordered FIA to investigate the issue, though the company completely denied the accusations. Then FIA raided Axact offices in its investigations and arrested CEO, Shoaib Shaikh. In 2016 Mr. Shaik got released on bail and charges were dropped on him surprisingly.
Axact lost its reputation after that, it had to add facilities and benefits for employees for them to join the company. Now the scandal of fake degree still remains with the company. The news of its vice president getting jail just proves that.