Even while the investigation against ponzi scheme Speak Asia, which duped people by promising easy income, is speeding up, company’s website which was non-functional for past few months, has become partially functional as it is allowing agents to log in and check their status. However, no transactions or changes are possible on the website.
Sources from the Economic Offence Wing, Mumbai and Hyderabad have confirmed that Speak Asia’s site is registered outside India and its server is located in Singapore, therefore they (the investigating agencies) have no authority to take it over. “(Speak Asia) Server is in Singapore and never officially controlled by EOW. So no question of handing back (the server),” said a top official while replying to comments by some Speak Asia panellists that EOW has handed back its server and so the site is functioning again.
Some agents, citing an official letter from Speak Asia, have been saying that since their server has been taken over by EOW, they cannot send surveys to panellists. (read more… Speak Asia says cannot send surveys as server is in police custody!).
According to the information from the EOW it is now clear that they never had taken control of Speak Asia’s server. Then the big question is how and why the company stopped sending surveys to its panellist? This also means that either the company itself or its big agents have been lying about the server and surveys. Speak Asia stopped sending surveys from 13th May and have also not paid any money since then.
As we have mentioned earlier, the company has not paid a single paisa to panellists since 13th May and owes them about Rs2,280 crore. This is the very same company, whose officials in a press conference in Mumbai had claimed Speak Asia was backed by very good technology and had plenty of servers to send the surveys.
The multi-level marketing (MLM) company came under the scanner of investigating authorities after it became known that it was promising easy income by merely filling online surveys. Interestingly, Speak Asia continues to claims that it would shortly set up permanent establishment with five zone offices in India.
Meanwhile, EOW is investigating the matter to build a case based on concrete evidence. Agencies from major cities such as Mumbai, Hyderabad, Delhi, Pune are currently involved in investigating the affairs of the MLM company.
According to the sources, major investigation was to find out the trail of money.
All panellists of the Ponzi scheme are eagerly waiting for their money they had ‘invested’ in Speak Asia for earning huge returns. According to investigative reports, almost half of the money collected by Speak Asia was transferred to Singapore, while the rest may still be in India.
The EOW had arrested Speak Asia’s financial consultant Sanjeev Dandona and Nayan Khandor, a Mumbai-based Web designer responsible for designing e-surveys. It was revealed that the survey, which the company used to send to its panellist were designed in Mumbai itself and not in Singapore as claimed by Speak Asia.
Meanwhile, according to the reports, the chief operating officer of Speak Asia, Tarak Bajpai has become untraceable after he was granted bail by Vijaywada Court. Speak Asia’s chairperson Haren Kaur and CEO for India, Manoj Kumar and several other top officials are still at large.
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