Xact CEO Shoaib Sheikh detained by FIA on suspicion of corruption
Shoaib Sheikh, CEO of Exact and owner of a private news channel, was held by the Federal Investigation Agency (FIA) on Thursday in connection with a gratification case launched against him and formerly serving as District and Sessions Judge in Islamabad .
Charges 161, 165-A and 109 of the Pakistan Penal Code (PPC) and section 5 of the Prevention of Corruption Act, 1947 were included in the FIR, which was filed at the FIA Anti-Corruption Circle (2) on Wednesday.
On February 17, 2018, in response to a referral sent by an Additional Registrar of the Islamabad High Court (IHC), the Anti Corruption Circle Islamabad reportedly launched an investigation.
Parvez-ul-Qadir Memon, an ex-Additional District and Sessions Judge, admitted to accepting illegal payment of Rs. 5 million after Xact CEO Shoaib Ahmed Sheikh was found not guilty in the case titled “The State v. Shoaib Ahmed Sheikh”.
A complaint has been filed against CEO Xact Shoaib Ahmed Sheikh for being the beneficiary of the transaction and receiving illegal gratification to clear Shoaib Ahmed Sheikh through a judgment against Parvez-ul-Qadir Memon. According to the FIR, this prima facie constitutes the offense of misuse of power for illegal personal gain and criminal miscount.
According to a representative of the FIA, the organization began investigating Sheikh after his arrest. The judge was also proposed in the Shaikh case.
FIA summons Xact CEO on February 20, 2023 in bribery case. Still Sheikh did not appear before the investigation team.