KARACHI: An additional district and sessions court in Karachi on Wednesday indicted Axact Chief Executive Officer (CEO) Shoaib Shaikh and other suspects in a multi-million money laundering case.
It was reported that the judge summoned the witnesses in the case during the next court hearing scheduled for July 4.
Moreover, the suspects identified as Mohammad Junaid and Younis have denied the charges of being involved in money laundering.
The Federal Investigation Agency (FIA) has accused Shoaib Shaikh of having illegally transferred Rs 170.17 million to a Dubai-based firm, Chanda Exchange Company, in April 2014.
Shaikh was arrested by the FIA on February 26 earlier this year, after the Sindh High Court rejected his protective bail application which was submitted after the court approved the FIA’s appeal against the acquittal of those accused in the money laundering case.
