Axact executive Umair Hamid pleads guilty in scam

A 31 year old man from Karachi, who was a former executive at the parent company of BOL TV, Axact in Pakistan, has pleaded guilty in a fraud case.

A press release from US Department of Justice said, “Umair Hamid, 31, of Karachi, Pakistan, pled guilty to one count of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison”.

“Operating from Pakistan, Umair Hamid helped fraudulently rake in millions of dollars from unwitting American consumers who paid to enrol in, and get degrees from, high schools and colleges that did not exist. As a result of his fraud, people who thought they were investing in an education received nothing more than worthless diplomas and a harsh lesson in the worldwide reach of deceit. Together with our partners at the FBI and the Postal Service, we will continue to work to protect consumers from scams that victimise our citizens.” Acting US Attorney Joon H. Kim was quoted as saying in the US justice department press release.

Hamid is expected to be sentenced on 21st July 2017.