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.
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