$140Mcollected from US consumers by a fake-diploma network before a 21-month sentence
A Pakistani company's network of fake diplomas collected about $140 million from tens of thousands of US consumers before one of its executives was sentenced to 21 months in prison.
Umair Hamid pleaded guilty to conspiracy to commit wire fraud and was ordered to forfeit $5,303,020, a fraction of what the scheme Axact ran had taken in.
Source: Radio Free Europe/Radio Liberty, with Reuters · Daily Pakistan Global. Read more: diploma mill fraud · case file