Shoaib Ahmed Shaikh

Shoaib Ahmed Shaikh also known as SAS (born April 17, 1971) is a Pakistani businessman and mediamogul. He is the founder of 24-hour news cycle network named "BOL Network". He also founded diploma mill company Axact. 
Early life.
Shoaib was born on 17 April 1971 in Karachi, Sindh to middle-class family. His father was a Sindh High Court lawyer who also served some years as the principal of the Islamia College. Shaikh has four sibilings.
Career.
Founding BOL Network (2013).
In June 2013, Shoaib Ahmed Sheikh started a Pakistani 24-hour news cycle network named BOL Network. According to him, BOL Network was meant to create an independent media house to portray a soft image of Pakistan. The company also announced a television set brand by the name of BG.
Arrestment.
Following the publication of the New York Times article, Pakistan's Interior Minister directed the country's Federal Investigation Agency to begin inquiry into whether the company was involved in any legal business. Following the interior minister’s order, cyber crime team of FIA raided Axact’s office in Karachi and Islamabad and seized computers, recorded statements of employees as well taking into custody 25 employees of the company and 28 employees from Rawalpindi office. The FIA team found and seized several blank degrees as well as fake letterhead of the US State Department. The investigation was transferred from the FIA's cyber crime department to its corporate department. Regarding the New York Times article it is known that Shoaib Shaikh had made over $89 million Dollars and had laundered money through shell companies in the US and more offshore companies which were used to fund Axact and their news company BOL. The issue was also taken up in Senate of Pakistan where Chairman of the Senate Raza Rabbani constituted a committee to probe into the issue. Pakistan's tax authorities and the SECP also initiated investigations into the company.
On May 26, 2015, Federal Investigation Agency arrested Shoaib Ahmed Shaikh for investigation. The case was filed against him on May 27, 2015 in Karachi, Pakistan. Subsequently, Axact was sealed on May 28, 2015 and the Information ministry requested the Pakistan Electronic Media Regulatory Authority (PEMRA) to close down BOL. He was given bail prior to his conviction, the case filed against him on the charges of alleged fraud, extortion, and money laundering.
On May 26, 2015, Federal Investigation Agency arrested Shoaib Ahmed Shaikh for investigation. The case was filed against him on May 27, 2015 in Karachi, Pakistan.
On September 26, 2018, Shaikh was sentenced to 7 years in prison for the diploma mill conspiracies, along with several other accomplishes.<ref name="https://www.dawn.com/news/1418156"></ref> His wife was acquitted of all charges.
In July 2018, the court announced a 20-year jail sentence to him along with 22 others regarding the fake degree case, and was subsequently sentenced in September 2018.