Money laundering case against Speak Asia
Mumbai: The Enforcement Directorate on Tuesday
registered a case against Speak Asia, a Singapore-based online
survey company, under the Prevention of Money Laundering Act
in connection with a multi-level marketing scam, sources said.
The firm had allegedly duped over 12 lakh investors, also
called as panelists, to the tune of Rs 1,300 crore, after
assuring them commission if they introduced new members.
Speak Asia had promised lucrative returns to its
investors, who were asked to pay a fee to register with it,
through a multi-marketing pyramid model.
The city police had earlier arrested Speak Asia`s Chief
Operating Officer in India (COO) Tarak Bajpai, Financial
Manager Ravi Khanna, the web portal`s technicians Rajeev
Malhotra, and Rais Khan and panelist Deepankar Sarkar.
More from India
More from World
More from Sports
More from Entertaiment
- Sheena murder: Trio to be taken to Raigad to re-construct crime scene
- Mikhail emailed sister Sheena Bora's resignation letter: Report
- Raksha Bandhan: Sushma Swaraj ties Rakhi to Venkaiah Naidu
- Watch: Wife catches husband with his girlfriend at Goa Airport
- Shiv Sena announces award of 2 lakh for Hindu families with 5 kids
- Know box-office report of Saif-Katrina's 'Phantom'
- Indrani Mukerjea's son Mikhail emailed Sheena Bora's resignation letter
- Ten interesting facts about hockey legend Dhyan Chand
- Sheena Bora murder case: Indrani Mukerjea's ex-husband Sanjeev Khanna, driver taken to Raigad to recreate crime scene
- Wife catches husband along with his girlfriend at Goa airport, video goes viral – Watch