FIA given go-ahead to probe Axact’s 34 bank accounts

KARACHI: A local court on Friday granted permission to officials concerned of the Federal Investigation Agency (FIA) to check the financial transactions made by Axact through 34 bank accounts which are linked to the company.
An application moved by Saeed Ahmed Memon, Deputy Director, FIA Corporate Circle, before the District and Sessions Judge (South) Ahmed Sabah, prayed for granting permission to the FIA officials concerned for checking any alleged violation of rules by maintaining 34 accounts in banks, ABL, HBL, Askari Bank and Standard Chartered Bank. The court, after hearing the arguments, granted the application under Section 94 of the Criminal Procedure Code.
It is believed that more than Rs20 billion have been deposited in these banks against different heads and the FIA officials desired to check the allegations of transferring huge amounts in violation of banking rules.
It may be mentioned that the FIA officials concerned visited the headquarters of Axact in Karachi and Islamabad for the fourth day on Friday and continued their investigation and questioned the IT company’s employees.
The FIA investigators are currently at the Karachi offices of Axact, which is accused of reaping millions of dollars by selling fake academic degrees online. According to reports, the FIA officials were investigating the company’s records and questioning employees in Karachi.