- Today EOW called Many franchise and top panelists for investigation.After investigation EOW has accepted that speakasia in not an money laundering company.
- SAOL didn't give the complete authority of there server and the Govt. officials were accompanied by SA's technician (IBM).
- Court cannot extend the custody of Tarak Bajpai any further than 12th August.
- Till date EOW has no evidences against speakasia.
Updates 8th August
Speak Asia case accused remanded in police custody till Aug 12
A local court on Thursday remanded the five accused arrested in connection with Speak Asia's multi-level marketing scam in police custody till August 12.
The city police had recently 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.
Speak Asia had promised lucrative returns through a multi-marketing pyramid model. The firm allegedly duped over 12 lakh investors, also called as panelists to the tune of Rs 1300 crore, by assuring them commission if they introduced new members.
The police today told the court that they want to recover the money that the accused had syphoned off after duping the investors. The police also said that some more arrests were likely in the case.
The police also said that they have frozen 35 bank accounts belonging to the company which reportedly have funds worth about Rs 130 crore.
Red-corner notice sought against global head of SpeakAsia
Investors have lost over Rs 14,000 crore in SpeakAsia's schemes, police said. The cops recently froze the company's 35 bank accounts that had a balance of around Rs 139 crore.
The company promised a return of Rs 52,000 on an annual investment of Rs 11,000. There are more than 20 lakh investors across India who was known as panelists. "One account in a Mumbai bank had a balance of Rs 80 crore," a police officer said.
The economic offences wing (EOW) is also collecting information about the company's global head, Haren Kaur, a Singaporean national of Indian origin, to issue a red corner notice against her.
"As per our information, she is in Dubai. We will soon issue a red corner notice (RCN) through the CBI to arrest her," another officer said. The police registered two fresh cases in Indore following investors' complaints.
Police officials said that they have contacted computer emergency response team in Delhi to block the firm's website. The server on which the website is hosted is located in the US and it will take time to block it globally, the police said.
The EOW has arrested five officials of SpeakAsia so far. The Esplanade court remanded the five accused in police custody till August 4. "More arrests are likely soon," said investigating officer, B P Shelke.
speakasia website closed by investigating agencies.
Speak Asia Was under the radar of Government Investigating agencies and Speak Asia Tarak Bajpai Arrested 29 July 2011 according to News Mr. Tarak with his associates in Mumbai was controlling the
website later on Cyber Investigation Started After Speak Asia News on 3rd of August . In a News Shown
on 5th August Speak Asia Managed By Tulsient Consultancy EOW Mumbai after that today on 7th of August Investigating Agencies have closed the Websites.
Speak Asia Website was start getting daily visitors of more then 1 Lakh for their Speak Asia POP UP where
news are Published. As After News Come of Speak Asia Fraud on day by day Speak Asia Website World
ranking was getting improved 3 Months Before its Stand 1,50,000 and Today 976 it means this all Fraud allegation giving website a Better World Wild Ranking .
