Sunday 20 November 2011

Speak Asia charged with money-laundering

In a further sign of trouble for Singapore-based online survey company Speak Asia, the Enforcement Directorate (ED) has booked the company under the Prevention of Money Laundering Act (PMLA) for allegedly sending Rs 900 crore out of the country, disguised as remittances.

Speak
Asia, which conducts online surveys on products and services, is already being probed by the Mumbai Economic Offen-ces Wing, and some of its India-based office-bearers were arrested in July, for allegedly duping members of about Rs 2,300 crore in reward points and dues. The recent money-laundering case was registered last month; ED officials are now investigating which office-bearers were involved. Speak Asia CEO Manoj Kumar, did not respond to repeated phone calls and an email.

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