Speak Asia top officials and Tarak Bajpai, the chief operating officer arrested Suspected fraud of Rs.1, 320 Crore
Speak Asia top officials and Tarak Bajpai,
the chief operating officer arrested Suspected fraud of Rs.1, 320 Crore
Amarinder Singh City Superintendent of Police said that Tarak Bajpai chief operating officer (COO) of Speak Asia was arrested late last night in connection with a forgery case from the Vijay Nagar police station area.
Tarak Bajpai will be flown from Indore to Mumbai.
With Tarak Bajpai 3 other persons were also arrested.
Joint Commissioner of Police Himanshu Roy told to media that Finance manager Ravi Khanna along with Rajiv Malhotra and the third official, identified only as Rais, were nabbed by the economic offences wing of Mumbai police and brought to Mumbai from different parts of the country.
Roy said that police suspect fraud of Rs.1, 320 crore.
Web portal SpeakAsiaonline.com was operated by tarak and 1 more person with his links in Mumbai.
He mainly handled training, communication with members and hosted the retreat for Speak Asia investors in Goa this year.
2 days back CID froze the online survey company's bank accounts.
Speak Asia is being investigated for a multi-level fraud. FIRs and PILs have been filed against it.
Speak Asia is not incorporated in India and it will be investigated inspected under section 591 of the Companies Act, which is applicable on companies incorporated outside India and has established a place of business within the country.
The company's chief executive officer (CEO) is a Singapore-national Harendar Kaur.
The India CEO Manoj Kumar is currently untraced and on run.
Speak Asia only operates in India in Asia and the company had 137 franchises in Maharashtra, four of which are in Mumbai.
Reality views by sm –
Keyword Tags – Speak Asia Manoj Kumar Arrested COO Harendar Kaur Tarak Bajpai
8 comments:
last time I found it very popular in Lucknow and then only I said that something is wrtong somewhere if one is being given so much of money per week without any production or bussiness...but Indian public deserves this as they believe in only money, from where it is coming or how it is coming.its immaterial to them.
Renu,
thanks.
Informative and well-written. Thanks so much for sharing!
The business model looked fishy from the beginning. I request you to write on how the fraud was exactly committed and how people were cheated. That could be useful for preventing future frauds like that.
Destination Infinity
@Ash
thanks.
@Destination Infinity i will write the post on that.thanks for suggestion.
hey you know, three men came to our neighbor's house and gave a presentation on it and they asked us to join..I smelt it might be something fraud and know it through you as fraud..
nice post!
@Gowthami Nandigala thanks.