142: Axact

The Extensive Scam Operation of EXACT

EXACT, a Pakistani company, engaged in a massive scam operation involving fake universities and degrees, targeting hundreds of thousands of victims worldwide. They set up over 300 fake websites, impersonating reputable universities, and offered degrees and certifications in various fields. The company employed sophisticated marketing techniques, including targeted online ads and SEO campaigns, to attract potential students. Once enrolled, victims were convinced to pay additional fees for expedited courses or to resolve fake issues with their degrees. EXACT also extorted money from some victims by threatening to expose their involvement in the scam. The operation generated hundreds of millions of dollars in revenue for the company. Journalists, including Declan Walsh from The New York Times, conducted extensive investigations, exposing the company's fraudulent activities. The Pakistani government took action, raiding EXACT's offices and arresting some executives. However, many of the accused individuals were acquitted due to corruption within the judicial system. The CEO of EXACT, Schwab Sheikh, faced arrest and was briefly imprisoned, but later released under unclear circumstances. The company's operations continue to a lesser extent, as its broadcasting license for the bowl TV network was revoked, and some key personnel left the company. The fate of EXACT and its executives remains uncertain, but the scam remains one of the largest and most audacious in recent history.