Fake Diplomas, Real Cash: Pakistani Company Axact Reaps Millions


AxactA New York Times report Sunday found that a secretive Pakistani software company has been allegedly scamming people into paying for fake academic degrees from online schools, according to former insiders, company records, and a detailed analysis of its website.

The company, Axact, allegedly uses telephone sales agents to persuade people to enroll in fake courses and, sometimes, to pose as U.S. government officials to follow up and convince customers to buy certifications or authentication documents. Revenue, estimated to be as much as several million dollars each month, is then transferred into offshore companies.

Axact did not respond to repeated requests for interviews, but denied the allegations in a letter sent through its lawyers.

Axact is also building a broadcast studio and recruiting prominent journalists to launch its media group Bol, which purports to be funded through its fake diploma scheme, according to the Times. Read more at the New York Times.

{Andy Heller-Matzav.com Newscenter}