Citizens' Issues
EOW may arrest more people in the Speak Asia scam soon

The investigation agency is probing more leads to trace the money sent from India to Singapore and may also arrest more people soon

The Economic Offences Wing (EOW) of the Mumbai police, which is investigating the multi-crore Speak Asia scam, may soon arrest some more people involved in the case even as the company’s chief executive Manoj Kumar, chairperson Harender Kaur and chief operating officer Tarak Bajpai are still absconding. In addition, according to GoDaddy.com, the domain name ‘speakasiaonline.com’ has been suspended due to invalid Whois information. (See here http://who.godaddy.com/whois.aspx?domain=speakasiaonline.com&prog_id=GoDaddy ).

Meanwhile, police officers have expressed an urgent need to create awareness among the people regarding many such ‘fly-by-night’ companies that promise huge returns.

According to an officer close to the development, several panellists of Speak Asia are still under the impression that the company’s server is seized by EOW and many times they are finding it difficult to convince the agents. “Practically, nobody from India can have a (physical) possession of a server which is located in Singapore. Yet several panellists still think that the Speak Asia scheme collapsed after we seized its servers during our investigations. This is not the case and we think there is a need to educate people about such money-multiplier schemes,” the officer added.

He said, “Huge amounts of money collected by Speak Asia from its panellists residing in India have already been remitted to Singapore. We are tracing the remaining money. People should understand that they are falsely made to understand that the company was operating from India.”

Moneylife has consistently exposed the dubious MLM schemes. It has also covered how many such companies are coming under the scrutiny of the police, especially from states like Maharashtra, Andhra Pradesh and Rajasthan.
 
Sources say that while forensic report of Speak Asia’s seized material such as computers, laptops is awaited; the EOW has gathered evidence against few more people connected with the scam. “There is possibility of more arrest from Mumbai as well as outside,” an official from the agency said.

 The EOW is also keeping a strict vigil on several sites that promote and help in communication for several MLM and ponzi schemes. The department is even encouraging its officials to attend seminars organised by MLM and ponzi operators so that they would understand the modus operandi of these schemes.

Agencies across India are investigating the SpeakAsia scam. “We are closely in touch with agencies from other states which have also started their probe against the company. For instance, the Enforcement Directorate (ED) and the Series Fraud cell of Hyderabad police are also closely monitoring the probe.”
 
Speak Asia duped around 23 lakh investors to the tune of Rs2,000 crore. It promised a weekly income, merely on filling online survey forms. Initially the company paid the money to its panellists but stopped all the payments since May 2011. After complaints were lodged against the company, it came under the scrutiny of the EOW, Mumbai.

Earlier, the investigating agency had arrested Speak Asia’s chief operating officer (COO), Tarak Bajpai, along with few other employees. Currently Manoj Kumar, its CEO and Harendar Kaur, a Singaporean of Indian origin and company’s chairperson are absconding.

User

COMMENTS

parvesh

5 years ago

Duniya mein logon ne
Phir apne dil thaame
Aaye hain lekar hum...(speakasians) Phir kitne hungame....

Phir humne socha hai..
Hum jeete sab haare..
Darwaaze khul jaaye...
Gir jaaye sab dewaarein..

hum se takra paya hai kaun..

humko pehchaan lo, hum hain speakasians...

ajex

5 years ago

"the company paid the money to its panellists but stopped all the payments since May 2010."

hello its may 2011, open ur eyes first.

Tarak Bajpai

5 years ago

Hi,
I m have not absconded to any where.The EOW know very well where i am.I m not commenting on this issues does not mean I have forgotten everything,I respect the apex honorable judiciary of India and our case is there on the last disposal stage.So lets wait for Honorable Supreme Court's Verdict. Satya Mev Jayate

REPLY

Ram

In Reply to Tarak Bajpai 5 years ago

Where are you now Sir? You said EOW know very well where you are. Then why can't you disclose the location?

Suresh Pantaik

In Reply to Tarak Bajpai 5 years ago

I dont this this is fake id or genniue ..

One thing I am sure the Words Are True .....

Satyam

In Reply to Suresh Pantaik 5 years ago

You know the words are true but the id is fake. hahahaha

abhidip mukherjee

In Reply to Tarak Bajpai 5 years ago

sir,
bhok ne do in logo ko, hum logo ko SAOL or SUP.Court pe pura bharosa hai. bohot jald humara jeet hogi or in logo ko karara jwab milega.

jay HIND
Jay SAOL
Jay TARAK SIR

Tarak Bajpai

In Reply to abhidip mukherjee 5 years ago

Abhidip, have trust in ur judiciary and nothing will go wrong.they can delay the verdict by creating obstacles but they r not the one who will deny the verdict.We have followed the legal steps throughout our business working in India.Satya Mev Jayate

Suresh Patnaik

In Reply to Tarak Bajpai 5 years ago

Is any Rules & Regulations for Eow for investgation ? How many days they can keep our server or stop access for log in ...?

In this case , What should company take action against ewo .. even this engough time to help from company to eow for investgation

Chander

In Reply to Tarak Bajpai 5 years ago

All the best Tarak Sir...We will win for sure!

Haseeb

5 years ago

Money life is spreading real fraud news .... if money life tells 200 times that speakasia is fraud... we people willnot belive that... because we know all news...
we need real news like supreme court hearing details and all...
next hearing in supreme court on 6th February.....
but why money life giving only negative report against speakasia....
how many people have given complaint against speakasia... Only 3 or 4 people from 23 lackh people given complaints against speakasia....
but
115 people have given complaints for blocking speakasia and by supporting speakasia....
and all other peoples are beliving and trusting in speakasia... thats y they did'nt give complaint.....
still company is ready to pay us....
I think only govt. agencies making delays in this case...
fuckin... 8 months past.. still their investigation not finished....
but Hon. Lahoti'ji has submitted his mediation report as per direction of Supreme Court...
we all people waiting for a consent from supreme court to continue speakasia's work in India...
there is lots of companies ran away.. when govt. enquires about them...
but speakasia still fighting to exist...
all people are supporting speakasia .. i also supporting speakasia......
.................
we will never be panic by reading this kind of misguiding news from Money life..... because we knows that you people are the real frauds..... not speakasia....
we love speakasia.... we willnot belive any this kind of fraud news and cheap medias like moneylife....

ANUJ

5 years ago

ye sab money life walo ki BAKARCHOODI hai.
money life wale waise bhi kuch ukad nahi payenge..ha ha ha ha ha

REPLY

Ravan

In Reply to ANUJ 5 years ago

You are my brother. your laughter is like that of mine. ha ha ha ha ha

Truly Speak Asian

5 years ago

Deshmai itnae bade ghotale horahe hai..army mai scams, 2g scam etc uskai upar tou likhtae nahi jiski wajah sai desh ko dhoka mila...Aur waise b agar Speak Asia ka mamla abi apex court mai, muje yeh samj nahi aata ki ye kaun si unglii karna hua..

Just feel shame on yourself by giving such manipulative news..and by the way Mr.Tarak Bajpai is not absconding he is on bail..(Plz consult the subjects)..It will be best on part of you if u will aware the mass about the mediation process going on right now jisko Supreme court nai order kiya hai..Apnai aap ko kanoon sai bad kar mat sochoo..


Let the Truth prevail..
Satya Maeva jayatae

REPLY

Ram

In Reply to Truly Speak Asian 5 years ago

If Tarak Bajpai is not absconding and if he is on bail why can't he come out in the open ? Please advise Tarak Bajpai to post comment here about his whereabouts.

If Truly Speak Asian knows about the whereabouts of Tarak Bajpai please disclose the details and you can shut the mouth of "manipulative news editors".

Suresh

In Reply to Ram 5 years ago

As Judical Terms they cant come out and take any meeting or seminar ...They applied for antisipatory bail , this on final stage to get an order ..Hope so after getting bail , they may come to met panelist .

Ram

In Reply to Suresh 5 years ago

A person named Tarak Bajpai has commented on the issue. Is he real or fake sir?

Speak Asian

5 years ago

Tum logo ki kisi EOW officer se baat hoti hai ???? jo yeh sab jhooth aapko yaahan to batata hai lekin court mein uski fat ti hai yeh sab boltey huey court mein woh yeh sab kyun nahi bolta ?????

Moreover abhi aur arrest karke yeh EOW kya karegi ... Itne saarey arrest ho gaye abhi tak to kuch sabit nahi kar paayi aur agar galat hota kuch bhi to BAIL kesey ho gayi sabki ?

Tum Money Life waaley baaz aa jao apni in harkato se samajh aayi warna beech bazar mein nanga kar dunga tum logo ko saalo jhooth boltey ho sarey aam sharam nahi aati tum logo ko...

vijendra

5 years ago

bhai kabhi kabhi to sahi likh diya karo.hame to ye lagta hai ki speakasia paisa bhi degi tab bhi aap ye kahege ki speakasia bhag gai hai ye paisa to eow de rahi hai.ha ha ah ah ah ah aha.ek bat yad rakhna speakasia ko koi rok nahi sakta

Suresh

5 years ago

I would like ask to Moneylife.in

Why u did not post mediation process going about speakasiaonlince case and why u not posting panelist view ...

Do u have any what ur posting articials

WHAT A SHAME MONE LIFE

5 years ago

WHAT A LIAR U R MONEY LIFE

vijendra

5 years ago

speakasia bahut jald aane wali hai.aur sab log dekhoge.saol rock

Oz

5 years ago

"the company paid the money to its panellists but stopped all the payments since May 2010."

You mean May 2011.

REPLY

Baba Black Sheep

In Reply to Oz 5 years ago

Epic fail!! LOL!!!
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