(bluwmongoose) Less than two weeks after an investigative report detailed how a Pakistan-based IT company allegedly raked in millions of dollars a month by selling bogus diplomas, degrees and certifications through a series of fake websites and forceful sales calls, authorities in the country say they’ve arrested the chief executive of Axact. The New York Times reports that Pakistani investigators arrested Shoaib Ahmed Shaikh and four other Axact executives after discovering a storage room full of blank fake degrees. The executives have been charged with fraud, forgery and illegal electronic money transfers, as well as money laundering and violating the country’s electronic crimes act, according to authorities. The charges stem from the Time’s May 18 report that Axact’s picture-perfect image of a bustling Silicon Valley-like corporation was in reality an enormous scheme selling fake academic degrees on a global scale. Former employees of the company told the Times that the Axact brings in several millions of dollars each month through its fake diploma business where a high school diploma costs around $350 and a doctoral degree can run $4,000 or more. In some cases, former employees said agents cold-called customers impersonating American government officials, intimidating people into paying thousands of dollars for authentication certificates allegedly signed by U.S.
Comment on Executives For The World’s Largest Diploma Mill Arrested
Ashlee Kieler, The Consumerist
Wed, 05/27/2015 - 9:58am
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