Axact CEO ‘Shoaib Sheikh’ apprehended in money-laundering case

KARACHI: The Federal Investigation Agency (FIA) on Monday arrested CEO Axact Shoaib Ahmed Sheikh in money laundering case after his protection bail was rejected by Sindh High Court (SHC).


The two-member SHC headed by Justice Naimatullah Phulpoto rejected his bail. The bench also sent the case to the trial court for further proceedings.

He was arrested from outside the court room. Earlier in a statement Shoaib Sheikh said whatever the decision will come he will obey the law.

The district and sessions court had acquitted Shoaib Sheikh in the money laundering case in 2016.