Master Mind Behind Axact Scandal Umair Hamid Receives 21 Months Jail
Axact’s Assistant Vice President for International relations Umair Hamid has finally been put behind the bars for a 21 months long prison.
Umair was proved to be guilty in the controversial Axact Scandal due to his role in the international diploma mill scheme. In addition to prison, Umair is also charged $5.3 million as an offense.
The Background Of The Axact Scandal:
— Declan Walsh (@declanwalsh) August 28, 2017
Umair and Axact horrendously scammed people by misleading them by a massive diploma mill.
They deluded people that with the tuition fee they will pay their college expenses, and in turn gave them fake diplomas and degrees from colleges that didn’t exist. Operating from Pakistan, they deceived American consumers by taking the enrollment fee and giving worthless diplomas in return.
This swindle not only risked the future and fortune of thousands of people all across the world but also damaged the repute of Pakistan.
Hamid’s Role In Axact Fraud:
Hamid, serving as the Vice President of IR, made misleading representations to convince people.
The controlled the entire game at the backend through the websites of the ‘pretending’ schools. He falsely represented that anyone who will pay the fee will be ‘enrolled’, sending a set of instructions and acceptances through emails.
In return of additional fee, he claimed to sell the accreditations as well.
He also made fake claims regarding the schools’ achievements and recognition. To convince people to put their trust in them, Hamid portrayed that the degrees are acknowledged by the job market all across the US.
Axact and Bol Vice President indicted for global degrees scam. This is the biggest evr media fraud scandal. BOL operating freely in Pakistan pic.twitter.com/DbJR9JL2jB
— Pakistan Media Watch (@PakPressWatch) August 28, 2017
Hamid along will his co-conspirators opened banks in the US under the name of shell entities to receive the funds transferred by the consumers. The entire banking net was effectively regulated by Hamid, who would then channelize the funds towards all the people who were part of the fraud.
In 2015, Axact was forced to stop its operations in Pakistan, and the individuals associated was prosecuted.
Hamid, however, managed to escape and continue his fraudulent scheme.
Umair Hamid is now sentenced to 21 months long prison along with $5,303,020 forfeit by Joon H.Kim, the Acting United States Attorney for the Southern District of New York. Don’t know what we are talking about?
Watch the complete details of the Axact Scandal here