The amount of the last survey done by the panel members of speakasia has been credited . Though there is no official communication on the same but the panelists can see the amount credited in their account by going to the 'survey income' menu.Below is a screenshot of the same.The amount has been credited on 5th of Jan,12.
SpeakAsia site working!!!
SpeakAsia's official site(www.speakasiaonline.com) has started to work again. A few days back also suddenly website started working but that time they closed the site the same day.Though there is no official communication on the same but people are expecting that it will continue to be functional.
Now all eyes are on the court verdict of 9th Jan.
Now all eyes are on the court verdict of 9th Jan.
ED registers money laundering case against Speak Asia
The Enforcement Directorate today 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.
Source: IBN7
Source: IBN7
Sucheta Dalal again targets MLM companies.
After her statement about SpeakAsia last September Sucheta Dalal again targets MLM companies and this time it's 'Real Planet Multigrade'. Take a look at what she says:
Real Planet Multitrade - new MLM scheme. Where is the regulator?
Despite several MLMs like Speak Asia duping numerous ‘investors’ for crores of rupees, there are no efforts by the government either to ban such ‘get-rich-quick’ schemes or to regulate it.
Even as the investigating agencies are probing multi-crore ponzi schemes and scams across India, many others continue to flourish, luring people with huge returns and other incentives.
Real Planet Multitrade is a relatively new entrant in the endless list of these MLM schemes. This has left several activists doubting the role of government in regulating such schemes.
This multi level marketing (MLM) company, registered in Mumbai, promises income on buying selling certain products. Once their products are bought, it entitles one to become a distributor and further, eligible for easy income on selling these products. It, in its vision statement claims to, “To produce millions of millionaires.”
Real Planet, has basket of products – mobile chips, anti-radiation bio energy card, solar pendant and diamond pendant that are sold for Rs500 to Rs2,000. It has several package deals combing various products and sold for Rs3,000 to Rs5,000. The company also has list of health care related products such as slimming capsules, piles capsules, aloe vera capsules and rheumatic massage oil.
Real Planet has business model similar to a typical MLM company. It promises income after the initial buyer introduces or propels new members to buy these products. The level of income increases as the number of people under the initial buyer increases.
The company has two main business plans, Samprak Planet Business Plan and Re-Purchase Business Plan. In the first plan it promises Rs250, on getting two people (1:1) enrolled in the company. This binary income is unlimited. It also promises diamond star royalty and gold star royalty income, which is given on completing 300 pairs ratio. In its re-purchase plan, the company promises 5-15% on direct income. Here, if a distributor has 3 direct pairs on both sides – left hand right hand - and if the left is earning Rs1 lakh weekly, then the distributor is entitled for 10% of their weekly earning, Rs10,000 in this case.
Interestingly on all the earning plans, it has certain caps and trimming applicable. Experts point out that the originality of these products is questionable. Considering the income that the company promises, the business is bound to collapse in long run. It could be typical case, where an MLM or ponzi schemes does pay in the start and then abscond after collecting the money.
Industry experts say that there is urgent need to regulate these schemes and companies, which are technically illegal under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
-Sucheta Dalal
Write Up of Manoj Kumar's Speech (on 27th Dec)
Good evening Speakasians,
Morya….(meaning come soon)
I have not spoken to you for quite some time. You must have also realized that we are not being giving out any official statements.
I am speaking to you from your company's Singapore office.
Do you know why we are not answering or giving out statements. Only because many of our matters are pending before the courts.... to give statements when the matter is sub judice, is nothing short of interferences in the legal process...
But over the last 2-3 days the reports that I have read in Mumbai mirror, Times of India and on the blog behind mlm.... these reports were the height of false allegations against the company. That is why it was necessary and most important for me to talk to u and put forth before u the truth. I wish to answer each of the allegations against the company, against me and against all of us.
The first allegation in this article is that all the panelists associated with the company are criminals, they are the accused because they are part of speakasia. According to them, this is as per law.
I want to ask what was the initial stand of the police and the various govt. authorities they wanted to protect whom? They wanted to protect you, now it’s you who are being labeled as the accused.... why?
Because the authorities’ are not interested to see that your money reaches u safely or that u continue with your business.
They have only one interest and that is to shut down the company at whatever cost.
They want to trouble you so much that you refuse to work.
Why they are doing this? I tried to ponder on a lot. Let us see in times to come, we will all know why they are doing this and who are the people behind this.
Let’s first address the issues raises in these articles.
First they said that 100 of crores of rupees have been sent to Singapore bank and from there the money has been further sent to Latin America and Brazil thru me.
I wish to inform them that I do not hold any personal account or none of the companies where I am a part, have any banking accounts what so ever in Singapore. So to bring any money into Singapore or further send it anywhere is not possible and the question does not arise.
Second thing they have said that the senior Speakasia officials own properties worth over 100 crores in and around Mumbai but they are shying away from giving any details for such properties. Why may I ask them are they being so secretive?
If they know of the property please share the info with us. Just by airing false allegation does not help anybody.
I live in a MHADA flat which I purchased by taking loan from the HDFC. The loan has since being repaid.
Now they talk of a Mercedes car which is supposed to belong to me, i wish to inform that there is no Mercedes car registered under my name.
As the PE was to happen the company purchased a Mercedes car for transporting the visiting dignitaries, consultants and vendors. I never used this Mercedes.
Everybody knows that I own a 2002 model Baleno which I self drive, I do not have a driver. But then THEY like to issue statement like “Mercedes Benz seized”.
They talk of another company by the name of Colibri of Brazil, and yet another company by the name of Admatrix which was supposedly operating in India. They say that I have invested in Colibri, if they have worked so hard, why can’t they go to the ROC of brazil which can be done on the net also and they can easily find out that who are the promoters of the company. I am surely not the promoter.
They are local people from Brazil; I have no investment in the said company, not even a single naya paisa.
Yes, the promoter of Colibri did come to us to get the software created because my company Tulsiyant where I am the director has been creating Software for Direct Marketing Companies for the last 15 years for various direct marketing companies around the world.
Everybody knows this that the best networking companies in india have got their software developed by us. Companies from Singapore, Malaysia, UK, Switzerland, Italy, USA companies from all over the world have got their software created by us.
So it is not surprising therefore that Mr. Colibri also approached us for developing their Software. Unless they start saying that all these companies for whom we have developed the software are owned by us.
Important to note is that when this company approached us we were already working with speakasia. So there was a conflict of interest and that is why we could not work on this.
After hearing their requirement we realized that as the speakasia model was hugely successful and without understanding the way Speakasia worked they wanted us to create a “ me too” model for them which we refused as it was conflict of interest”. This is all that is about our relation with Mr. Colibri.
There was one more thing written in this article that I am an investor in Colibri and according to them this was mentioned on the site of Mr. Colibri along with my photograph. I have myself checked the site nothing of this sort appears or as ever appeared on this site. I have come to realize that a certain blog had carried this article along with my photograph.
I am investigating who has created this and who has written that blog.
let me to explain to you that this direct marketing industry is a very small industry, everybody knows everybody in this industry. The people running Mr. Colibri know me like all 100-150 such companies. I know the directors/promoters of all such companies only because I have been in this business for the last 15 years.
One more thing that is mentioned in this article is that our people simply vanished and run away, there cannot be more stupid accusation than this.
On 11th May, 2011 one particular news channel reported a false news after this some more news channels picked and ran this story.
From that day till 29th July all of us together have been fighting to prove that all this is wrong. We have approached all Govt. agencies including the EOW that please give us an opportunity to explain our business model. We even approached the RBI. They did not listen to us.
We could have all run away, you could have left us, our employees could have left, the managers could have left, I could have left but nothing of this sort happened and we preferred to stand up and fight for your and our rights and we want to win and start working again.
Do you know that while I was in Dubai for some business work at that time all these arrests took place, my wife and my son had joined me for some days? I sent my family back to India few days after these arrests. Why? Did I want to run away? It is another matter that the EOW detained my family for the entire night and subjected them to harassment.
I wish to remind all of you that when the TBM meet was conducted, did you all see that film which we had made for this TBM meet (Torch Bearer Meet).
Many people at that time told us that some people on seeing the huge success of speakasia could try and take over the company, a small film was made for this.
I will try and upload that film after this statement so you could once again see the film. This film is a couple of months old and explains our business in detail and it also shows that why there could be an attack on us and probably that is why we are attacked. That film answers all of us why these people are troubling all of us.
But that film also tells us that when we will win, when we stand united and win the victory will surely be ours.
When the victory will be ours we will once again stand united shoulder to shoulder and take speakasia to its destined heights
There was a movie “Main Azad Hoon” shown before the meet. I remember the few lines of a song which was played repeatedly during the meet and the lines are “kitne baazu, kitne sar, gin le dushman dhyan se, haarega wo har baazi, jab khelein hum jee jaan se, aao.. aa jao, jag pe chaa jao, khelo tum jee jaan se”.
Morya…..!!!