The IT company Axact has restarted operations, today, on 19th September 2016, according to an announcement on the company’s official website.
This is happening a little more than a year after Axact’s operations were closed. The closure occurred in lieu of the Federal Investigation Agency (FIA)’s inquiry into the company’s involvement in a fake degree scandal. The company was first accused of a fake degree scam in May 2015 by a journalist in the American newspaper The New York Times.
The announcement from Axact human resources department, which addresses the company’s employees, states that all employees coming back before the 30th of September would be welcomed to the positions they had been working on before the company seized its operations. The returning employees will also be eligible for salaries since May 2015, when FIA started its investigation, effectively stopping the company’s operation. The investigation involved raids on Axact offices, which resulted in the detention of Axact personnel and the confiscation of some of their computer hardware for further inquiries.
Since then, money laundering charges against the Axact CEO (levied during the FIA investigation) have been dropped by a court citing lack of evidence and the Sindh High Court (SHC) also accepted his request for bail along with 13 others involved in the fake degree case.
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