KARACHI: A local court has ordered to release Axact CEO Shoaib Shaikh and Waqas Atiq after they were granted bail in the fake degree cases in the sum of Rs200,000 (each).
The court had reserved its ruling on the bail plea on August 29 and later (on Wednesday) it granted the bail pleas of the two accused and ordered to release them on bail. It has been learnt that the Sindh High Court had already acquitted Shoaib Shaikh in the money laundering case.
A Judicial Magistrate had granted the acquittal plea of the Axact CEO Shoaib Shaikh and others allegedly involved in some cases, including a money laundering case and the Axact fake degree scam.
The court found worth in the acquittal plea that said that despite the the passage of around one year, no proof were found against Shoaib Shaikh and his companions. The court, while quashing the cases, granted the plea of acquittal of Shoaib Shaikh.
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