Jack Recider

And the deal is that they can keep like a percent of the money coming through their bank account. And they do very little to earn this. Just let the money come in and then write the check to send to someone else. And so Exact had this whole system of moving money around to avoid detection and shut down.

And the deal is that they can keep like a percent of the money coming through their bank account. And they do very little to earn this. Just let the money come in and then write the check to send to someone else. And so Exact had this whole system of moving money around to avoid detection and shut down.

It's easy for big banks to recognize which bank accounts that might be connected to exact and just stop those transactions. But if they're constantly shifting the money and it's flowing all around, the big banks just can't detect this very easily to stop it.

It's easy for big banks to recognize which bank accounts that might be connected to exact and just stop those transactions. But if they're constantly shifting the money and it's flowing all around, the big banks just can't detect this very easily to stop it.

Dang. You know, honestly, I got to hand it to this exact company. It is really an impressive operation that they had set up. I mean, thousands of employees and a lot of them being highly skilled IT workers, building websites and doing all kinds of pretty advanced marketing. But also they got this business model just divine. dialed in.

Dang. You know, honestly, I got to hand it to this exact company. It is really an impressive operation that they had set up. I mean, thousands of employees and a lot of them being highly skilled IT workers, building websites and doing all kinds of pretty advanced marketing. But also they got this business model just divine. dialed in.

They figured out the perfect template to start a fake university, get victims to come onto the sites, and then scam them out of a ton of money, and then get that money funneled through different mules and offshore accounts, and then to do it all at scale, just hiring more and more and more and doing this every day, making their workers work 29 days a month.

They figured out the perfect template to start a fake university, get victims to come onto the sites, and then scam them out of a ton of money, and then get that money funneled through different mules and offshore accounts, and then to do it all at scale, just hiring more and more and more and doing this every day, making their workers work 29 days a month.

I mean, Exact was growing leaps and bounds and they were setting up hundreds of sites. Here, let me just list a whole bunch of these sites for you real quick. There was the Al Arab University, Alford High School, Alameda University. Okay, this one's got a Wikipedia entry. Let me see what's going on here. Oh man.

I mean, Exact was growing leaps and bounds and they were setting up hundreds of sites. Here, let me just list a whole bunch of these sites for you real quick. There was the Al Arab University, Alford High School, Alameda University. Okay, this one's got a Wikipedia entry. Let me see what's going on here. Oh man.

So apparently they were selling like some law enforcement training and apparently a bunch of cops had gotten some fake degrees or training from this website and then got jobs based off their fake training. and got in trouble for this. Gosh, it always wrecks me to see people in authority breaking the rules. It just shatters my trust in like the system every time.

So apparently they were selling like some law enforcement training and apparently a bunch of cops had gotten some fake degrees or training from this website and then got jobs based off their fake training. and got in trouble for this. Gosh, it always wrecks me to see people in authority breaking the rules. It just shatters my trust in like the system every time.

Okay, so there's like so many of these sites. Barclay University, Bayview University, Bay City University, Baytown University, Chapel University, Columbiana University, Fort Jones University, McGraw University, James Harding University, Pine Hill University, Western Advanced Central University. There's just so many, just so, so many of these.

Okay, so there's like so many of these sites. Barclay University, Bayview University, Bay City University, Baytown University, Chapel University, Columbiana University, Fort Jones University, McGraw University, James Harding University, Pine Hill University, Western Advanced Central University. There's just so many, just so, so many of these.

It's like once they figured out the game, they just kept copying and pasting and expanding and maximizing profits. So who's masterminding this whole thing? Who figured all this out? Well, exact was found by a guy named Shoaib Ahmed Sheikh.

It's like once they figured out the game, they just kept copying and pasting and expanding and maximizing profits. So who's masterminding this whole thing? Who figured all this out? Well, exact was found by a guy named Shoaib Ahmed Sheikh.

this is interesting, right? A guy who's running a fake degree scam is also controlling the press. He's got a lot of money and it's pretty influential.

this is interesting, right? A guy who's running a fake degree scam is also controlling the press. He's got a lot of money and it's pretty influential.

The exact website says Shoaib has set up schools, food and shelter systems, and healthcare systems all through his charitable giving. And he himself graduated from one of Pakistan's most prestigious business universities. So he clearly has great business skills. But he's not the only one running this company.

The exact website says Shoaib has set up schools, food and shelter systems, and healthcare systems all through his charitable giving. And he himself graduated from one of Pakistan's most prestigious business universities. So he clearly has great business skills. But he's not the only one running this company.