Money laundering case against Shoaib Shaikh: August 11 fixed next date of hearing

KARACHI: A local court adjourned the hearing in a money laundering (Hawala) case against Axact CEO Shoaib Shaikh and others till August 11.

Earlier, the attorney for Shoaib Shaikh prayed to the court to exempt Shaikh from appearance in the court as he (Shaikh) was busy in preparing a petition challenging his sentence awarded by a court in Islamabad.

The additional district and sessions judge (South) granted the same plea and fixed August 11 as the next date of hearing. It may be mentioned that the same court had already rejected the bail plea of Axact CEO Shoaib Shaikh in the money laundering case.

Shoaib Shaikh is also facing the charges of issuance of fake degrees. In the money laundering case, he along with others is alleged to have committed corruption of around Rs170m.

He was arrested by the Federal Investigation Agency (FIA) February 27 soon after the Sindh High Court (SHC) rejected his protective bail plea in the money laundering case. Shaikh was directed by the SHC to be produced before the trial court.

The judge concerned after hearing the arguments on the bail plea of Shoaib Shaikh had announced to reserve the ruling and later it declared rejection of the bail plea in this money laundering case.

The same bail plea was also rejected by the appellate court. The trial court later had also ordered to send Shaikh to the prison on judicial remand. The protective bail plea filed by Shoaib Shaikh was dismissed by bench headed by Justice Naimatullah Phulpoto.