Karachi (February 26, 2018): FIA has arrested Axact CEO Shoaib Sheikh in Money laundering case outside Sindh High Court on Monday evening.
According to the details, after the Sindh High Court (SHC) rejected Shoaib Sheikh’s protective bail application, court approved the Federal Investigation Agency’s (FIA) appeal against the acquittal of accused in the Axact money laundering case.
The Axact CEO’s legal counsel had requested the court to grant a three-day protective bail.The FIA director confirmed that the Axact CEO was arrested according to the court’s direction. The director added that the FIA will proceed against Shoaib Sheikh according to the law and that proceedings will begin once the court’s detailed verdict has been delivered.
A division bench of the SHC, headed by Justice Naimatullah Phulpoto, was hearing an appeal filed by the FIA against the acquittal of the Axact chief in a case pertaining to illegal money transfer.The two-member SHC bench also sent the case to the trial court for further proceedings.
The court has ordered Shoaib Sheikh to present before the court on March 3.