Former employee blows whistle on Axact’s ‘secret transactions’

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Sayyad Yasir Jamshaid, a former quality control officer at Axact, on Tuesday uploaded mobile phone videos of Axact’s secret financial transactions and communication history with clients on his Facebook page.

The Pakistani IT company, which the New York Times claims reaped millions of dollars by selling fake academic degrees online, is being probed by federal investigators.

The short videos uploaded by Jamshaid, apparently filmed through a mobile phone, shows glimpses of financial transactions of various clients and the company’s communication history with them.

One video shows Belford University, which had been indicted by an American federal judge for issuing fake degrees.

The former Axact employee has also uploaded videos allegedly showing credit card information and amount spent on buying fake degrees and diplomas.

5 COMMENTS

  1. It is a bad news for a company like Axact and this is a bad new for Pakistan. I am sure Jamshaid will have other compelling evidence against individuals and culprits should be brought to justice and punish accordingly.

    Axact need to come clean on this issue, this must be a work of some individuals who want to make a quick money and nothing else.

    In my opinion Axact should holds his hand up and face it and put measures in place so they are not going to face the similar situation in the future. I have not seen the Jamshaid's face book page or other evidence but I think they should not be making any mistakes like deny this completely as this reports suggesting that there is enough evidence there.

    Good luck Axact.

  2. Again I shall return to the theme of law and order, but first begin by acknowledging that the security services have started doing a stellar job and there appears to be a clear focus and determination on being very tough on major criminals. Recently, there was the AXACT financial fraud (I shall operate on the working assumption that indeed such a fraud did occur on a large scale). Clearly then, this is also a major crime and the question becomes what to do with the perpetrators of this fraud. By now, no one would be surprised were I to suggest execution of the top 2 or 3 criminals associated to this crime. A high profile case like this is exactly the sort of major crime where unambiguous messages need to be sent by the state. Convicted major criminals should understand that capital punishment will no longer be a theoretical possibility but a practical inevitability.

  3. Where is his Facebook page.?. I did not find Sayyad Yasir Jamshaid's profile on FB despite several attempts at the online search engines?

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