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Andhra Pradesh police arrests two agents of Speak Asia
Moneylife Digital Team
Moneylife Digital Team
Acting on a complaint filed by an NGO, the AP police have also frozenbank accounts of two franchisees of Speak Asia operating in the state and seized laptops, desktop computers, bank pass books and other material related to their MLM activities
The Criminal Investigation Department (CID) of the Andhra Pradesh police has arrested two persons running a franchisee of Speak Asia online Pte Ltd and frozen their bank accounts. Vijaywada-based Corporate Fraud Watch Society, a non-government organisation (NGO) had filed a complaint against the company, its promoters, directors, secretaries, representatives, employees and distributors.
In a statement, Dr Mahender Kumar Rathod, superintendent of police, economic offences wing, CID, Andhra Pradesh, said, "The CID once again appeals to the general public not to believe the deceitful promises given by this type of companies. It is pertinent to say that the amount of Rs3 lakh deposited by the franchise in AP have been frozen by the Reserve Bank of India since the company has no authorisation/registration under the Companies Act."
Syama Sundar, secretary of the Corporate Frauds Watch Society had filed the complaint, following which the police, arrested D Srinivas Reddy and LVA Swamy on Sunday. Both were operating franchises of Speak Asia in the state. The police also froze their bank accounts and seized their laptops, desktop computers, bank pass books and other material pertaining to MLM activities. The additional chief metropolitan magistrate, Vijaywada, has sent both, Mr Reddy and Mr Swamy to judicial custody.
On 25th June, the Vijaywada unit of the CID conducted a surprise check under the supervision of deputy superintendent, YV Ramana Kumar, on the residence of Mr Reddy and Mr Swamy.
The Andhra Pradesh police had registered a case under Section 420 (cheating) of the Indian Penal Code (IPC) and Sections 4, 5 and 6, read with Section 2(c), 3 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
In Andhra Pradesh alone, around 30,000 persons were enrolled with Speak Asia. The company has no registration in India under the Companies Act 1956. Likewise, Speak Asia has been running the money circulation business illegally without any authorisation from the competentauthority in India. "This is a bogus company having 150-170 franchises in India, among them the two above mentioned persons are from AP," the police statement said.
Moneylife has reported on how the Kerala state government is coming down heavily on "get-rich-quick" schemes, mushrooming across the state. The crime branch of the Kerala police had arrested promoters of two such schemes, Tycoon Empire International and Bizarre group of companies. (Read: "Kerala gets tough with money swindlers and MLM companies".)
One of our readers has informed that as part of its ongoing operation to curb dubious MLM schemes, the Kerala police banned the meeting of Amway, a popular MLM company. According to the reports, about 300distributors of Amway had gathered at a hotel in Thrissur. However, the police declined to give them any permission for a meeting. The Kerala director general of police has also cautioned people against the illegal network marketing.
The Criminal Investigation Department (CID) of the Andhra Pradesh police has arrested two persons running a franchisee of Speak Asia online Pte Ltd and frozen their bank accounts. Vijaywada-based Corporate Fraud Watch Society, a non-government organisation (NGO) had filed a complaint against the company, its promoters, directors, secretaries, representatives, employees and distributors.
In a statement, Dr Mahender Kumar Rathod, superintendent of police, economic offences wing, CID, Andhra Pradesh, said, "The CID once again appeals to the general public not to believe the deceitful promises given by this type of companies. It is pertinent to say that the amount of Rs3 lakh deposited by the franchise in AP have been frozen by the Reserve Bank of India since the company has no authorisation/registration under the Companies Act."
Syama Sundar, secretary of the Corporate Frauds Watch Society had filed the complaint, following which the police, arrested D Srinivas Reddy and LVA Swamy on Sunday. Both were operating franchises of Speak Asia in the state. The police also froze their bank accounts and seized their laptops, desktop computers, bank pass books and other material pertaining to MLM activities. The additional chief metropolitan magistrate, Vijaywada, has sent both, Mr Reddy and Mr Swamy to judicial custody.
On 25th June, the Vijaywada unit of the CID conducted a surprise check under the supervision of deputy superintendent, YV Ramana Kumar, on the residence of Mr Reddy and Mr Swamy.
The Andhra Pradesh police had registered a case under Section 420 (cheating) of the Indian Penal Code (IPC) and Sections 4, 5 and 6, read with Section 2(c), 3 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
In Andhra Pradesh alone, around 30,000 persons were enrolled with Speak Asia. The company has no registration in India under the Companies Act 1956. Likewise, Speak Asia has been running the money circulation business illegally without any authorisation from the competentauthority in India. "This is a bogus company having 150-170 franchises in India, among them the two above mentioned persons are from AP," the police statement said.
Moneylife has reported on how the Kerala state government is coming down heavily on "get-rich-quick" schemes, mushrooming across the state. The crime branch of the Kerala police had arrested promoters of two such schemes, Tycoon Empire International and Bizarre group of companies. (Read: "Kerala gets tough with money swindlers and MLM companies".)
One of our readers has informed that as part of its ongoing operation to curb dubious MLM schemes, the Kerala police banned the meeting of Amway, a popular MLM company. According to the reports, about 300distributors of Amway had gathered at a hotel in Thrissur. However, the police declined to give them any permission for a meeting. The Kerala director general of police has also cautioned people against the illegal network marketing.
Dainik Bhaskar 27th June 2011 2nd Page
11 हजार की स्कीम कभी लॉन्च ही नहीं की : स्पीक एशिया
रायपुर.ऑनलाइन बिजनेस का दावा करने वाली स्पीक एशिया ने 11 हजार जमाकर हर महीने 4-4 हजार रुपए लौटाने की योजना से पूरी तरह से पल्ला झाड़ लिया है।
कंपनी के सीईओ तारक बाजपेयी ने रविवार को राजधानी में आयोजित कार्यक्रम में दो टूक शब्दों में कहा कि इस तरह की स्कीम कंपनी ने कभी लांच ही नहीं की थी। कंपनी के अधिकृत बयान के बाद यह बात लगभग साफ हो गई है कि स्कीम में 50 करोड़ रुपए से ज्यादा रकम लगाने वाले हजारों लोगों की रकम डूब गई है।
रविवार को शहीद स्मारक में कंपनी के सीईओ तारक बाजपेयी ने निवेशकों से सीधे बात की। उन्होंने कहा कि कंपनी का केवल ऑनलाइन बिजनेस का काम है। जुलाई से कंपनी नया बिजनेस शुरू करने वाली है। इस के लिए ऑनलाइन ट्रेनिंग की शुरुआत की गई थी। इसमें 11 हजार रुपए देने के बाद हर महीने सेलरी के तौर पर चार हजार रुपए वापस किए जाते थे। यह निवेश वाली योजना नहीं थी।
जो मेहनत करेगा, उसे पैसा मिलेगा
कंपनी के सीईओ और सेमिनार के मुख्य वक्ता तारक बाजपेयी ने बताया कि कंपनी का ऑनलाइन शॉपिंग प्रोग्राम एमवे, युरेका फोब्र्स, आरएमसी आदि कंपनियों जैसा होगा। इसमें मेंबरों को कंपनी की ओर से उपलब्ध करवाए गए प्रोड्क्टस की बिक्री करनी होगी।
बिक्री के आधार पर उन्हें कमीशन दिया जाएगा। निवेशकों को जानकारी देने के लिए कंपनी की ओर से प्रदेश के सभी जिलों में इस तरह के सेमिनार आयोजित किए जाएंगे। रविवार की शाम को ही दुर्ग में भी इस तरह का सेमिनार आयोजित किया गया।
हर सवाल का जवाब
दोपहर लगभग 2 बजे तक चले सेमिनार में निवेशकों ने कंपनी के अधिकारियों से खुले मंच में कई तरह के सवाल-जवाब किए।
सवाल: कंपनी रुपए लेकर फरार है?
जवाब: कंपनी भाग गई है तो हम यहां मंच पर क्या कर रहे हैं।
सवाल: हर महीने चार हजार रुपए क्यों नहीं आ रहे हैं?
जवाब: कंपनी ने ऐसी स्कीम लांच ही नहीं की है। 11 हजार रुपए ट्रेनिंग देने के एवज में लिए गए थे, जिसे हर माह सैलरी के रूप में वापस किया गया।
सवाल: लाखों रुपए निवेश करने वालों को क्यों नहीं बताया गया कि केवल 11 हजार रुपए जमा करने हैं?
जवाब: लोगों ने भले ही एक समय में लाखों रुपए निवेश किए हैं, लेकिन कंपनी के पास वो कई आईडी के रूप में पहुंचता था। ऐसे में कंपनी क्या कर सकती है।
Same news in English
Raipur: The Speak Asia, Asia’s largest community of sovereign consumers, has washed its hand from the scheme that promised return of Rs 4000 a month and share of profit on an investment of Rs 11000.Giving a shock to the number of investors, CEO of Speak Asia Tarak Vajpayee on Sunday told that the company had never launched any such scheme.
Talking the investors, Vajpayee said that the company is just involved in online business. “Those who give business will get return,” said Vajpayee.
"We do not say or believe that anyone can pay us Rs 11,000 and earn X amount of rupees. That is not our promise."
After media investigation into the false claims made by the firm, Vajpayee had earlier apologised for misleading subscribers.
For over a year now, the company has been collecting large sums of money, rapidly luring and enrolling lakhs of people all the time, assuring them of phenomenal returns, while all that they had to do was simply fill out some online surveys.
But suddenly Speak Asia is backtracking on all its get rich quick claims.
The latest development is bad news for over 19 lakhs people who have signed up and paid money to Speak Asia in the hope that it would multiply.
The police have already begun tightening the noose on the agents of Speak Asia, which has till now accumulated more than Rs 100 crore from people in Raipur and other cities in the state.
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Speak Asia Calls For Android Mobile Phones - 27 June 2011
Speak Asia Company start calling to Speak Asia Panelists for confirming postal Addresses
for Delivering ANDROID Mobile phones. Many Speak Asians Confirmed this news that they start Receiving calls from Speak Asia Call centers .
Now Speak Asian also expecting calls regarding Laptops and Malaysia Trip Awards..
delivery dates as well.
Breaking news for all, SpeakAsia is launching new website very soon.Here is the preview of new website and the direct link is http://www.speakasiaonline.com/newsaol.htm.
Launch Of New Website - SpeakAsia
Categories: About Speak Asia, BizBasket, Speak Asia Online, SpeakAsia
Starting today, every Speakasian Can See The Below Image - This Is An Indication That The New Website Of SpeakAsia Will Be Seen And Accessible Very Soon
Speak Asia Rocks
Breaking News
Hindustan Times - Lucknow Edition - 20th June - 3rd Page
Hindustan Times - Lucknow Edition - 20th June - 3rd Page
Speak Asia Will Become An Indian Company
While addressing top business leaders in the city, Mr Taraj Bajpai assured panelists that the company would start paying back by the end of July
Mr Bajpai was asked few of the most burning questions by Hindustan Times and the answers has put all the panelists at ease.
When Is SpeakAsia Office Coming Up In India ?
When Would The Panelists Start Getting Money Back ?
People is the cutting from Hindustan Times for those who could not get their hand on a copy.
Speak Asia Online recently in their Talkatora Stadium seminar said that they would be starting Video surveys soon and only few days after they started displaying examples of it on their official websitewww.speakasiaonline.com.
Check out this link: www.speakasiaonline.com/panelist/videoSurvey.aspx
{You will have to login to view the video survey}
What actually are Video surveys: You will have to view a video on some product and after some frequent interval of time you will be presented with a code that you would be required to enter in a text box below.
The code thing in between is to ensure that you watch full video and answer a simple question in the end.
See pics below:
One Of The Daily Locals (Newspaper) in Lucknow also reports out positive about SpeakAsia.
They Say -
GHABRAANE KI JARURAT NAHI
Highlights From Talkatora Event:
Subscription Pin Price Hike Postponed Until Further Notice
New Website support eCommerce will be launched this month itself, SAOL is trying its best to do it before 25th June.
As of now, panelists will be able to buy products from the website.
All the products showcased will be at discounted prices
Panelists will be able to buy an LED tv at the price of an LCD tv
PVs (binary income) will be distributed to the uplines for purchases made.
All Electronics and Home Appliances range will be added, all at discounted price.
With the new website, now there will be a verification of email address and mobile number post the registration.
Once you have registered, you will get an email which will have a link in it, once you click on the link, your SAOL account will be active.
For mobile verification, you will get an SMS on your registered mobile with a verification code which will need to put into the verification box on the website
Panelists will have to attach their Address Proof and Id proofs (PAN Card) with the launch of new website
All panelists will have an option to book advertisements on SpeakAsia website for different establishments which will result in an additional income apart from the ones already there.
Payments to panelists will start soon
By 1st August SpeakAsia will have its first Registered office in India along with its TV Channel
Once the office set-up in India is done, the 3% deduction which we currently see during payouts will not be there anymore, as the money given to all panelists will be from Indian Banks directly and not from Singapore Bank
There are more updates coming in and the confirmation of all the above can be seen on the pop-ups in the coming days.
The above for sure is a very positive sign along with the ones we have been seeing in last couple of days where Zee Business had reported out the program "Chalti Rahegi SpeakAsia"
Apart from Zee Business, CNN, DNA, Econominc Times, Business Standard and other media had also reported out positive news on SpeakAsia. This Is What We All Were Waiting For.
There have been many advertisements seen on many websites as well like ESPN Cricket, MSN HomePage and above all Indian Railway which is an official Indian government website.
Bangalore Leaders Meet Updates - SpeakAsia
SpeakAsia Regional Manger Mr Calvin along with his entire Karnataka ASMs team were present at Bangalore Leaders Meet on Saturday, 4th June at 3pm along with all the leaders from Karnataka
- Mr Kalvin - South Zone Regional Manager
- Mr Sameer Baig - Sr Area Sales Manager
- Mr Vivek Pujar - Area Sales Manager
- Mr Vivek - Area Sales Manager
- Mr Anand - Area Sales Manager
The seating capacity was planned for 750 people but more than 1000 people were present, not only from Bangalore but different parts of Karnataka and other southern states as well.
This meet was a very promising meet where we not only got all our questions answered to the satisfaction but got crisp and concrete information as well.
Highlights Of The Meet Are As Follows:
o The management never gave us an answer like "Very Soon" or "In Some Time" or "6-8 weeks". Infact the answer was Very Crisp. We all have been given a deadline.
o Ans Given - ALL Problems WILL Be Fixed By 27th July Max.
o This is an eXcellent ray of hope for all of us. Its very much sure now that we wont be having any problems left after 27th July, BUT, this does Not mean that all problems will be solved only on 27th of July. The company is trying their best to ensure all problems are solved before 27th of July itself, however, 27th of July is a deadline for the resolution of all problems, max to max.
o BizBasket's Perception - The cloud is now gone, we now have a date to look forward to. Stop listening to rumors and wait for 27th July with positive thoughts.
o This answer again was very crisp and to the point.
o Ans Given - All payments will be opened before 27th July, without fail
o Opening a bank account for such huge transactions which involved Foreign Remittance definitely needs time for the setup. Its not like opening a SAVINGS bank account. Along with all this there are certain applications which needs to be developed in order to facilitate the smooth transactions. This entire process can take upto 8 weeks which ,when calculated, will be done before 27th of July.
o This does Not mean that we will Not get payments before 27th July. Company is trying its best to set up an escrow account with UOB bank itself, This ideally takes approx 2 weeks, and if all goes well the escrow account will be setup in next 8 days time. However, if UOB does not agree for the escrow account setup, SAOL will continue trying for the setup with UOB bank itself ALONG with the new bank account setup done.
o BizBasket's Perception - Instead of waiting for another 7 weeks, get on with the new sign-ups. By the time we reach 27th July your new downline would have earned the amount for his 1st payout - or - if you have RPs in your account then go for sub-panels
o Another Crisp Answer We Got
o Ans Given - Company WILL get registered in India max to max by 1st week of August.
o This does not mean that company will Not get registered before the time mentioned. Its the deadline which has been given, however the company's putting in their entire effort to see that get registered before that time itself.
o BizBasket's Perception - Why Is Company Delaying Its Registration In India ??
o Explanation - Company had all plans of getting itself registered in the month on June itself and they are still trying to get registered in the month of June itself but due to the closure of bank account the dates had to be pushed. This is as per the requirements and formalities.
o Its not just SAOL but MANY companies in Singapore which shows as non-compliant when you visit ACRA site. If we need to include few names Star TV and Sony Music are amongst the few who are also listed as non-compliant on ACRA website. This does NOT mean that these companies are black listed in Singapore.
o Ans Given - The company status on ACRA shows as non-compliant due to 2 weeks of delay in the submission of the MoM (Minutes Of Meeting). This will be removed in 2 weeks time and the financial year in Singapore ended on 31st May and fresh minutes and reports would need tobe submitted this year.
o BizBasket's Perception - By 25th June we will will get the proof that SAOL is definitely complaint in Singapore and Not at all black listed.
o Ans Given - SAOL is owned by Podium International at British Virgin Islands, which is a registered and a very legal company. However, There is No doubt that the parent organization and the governing body of SAOL IS Haren Ventures only.
o BizBasket's Perception - If we pay 11k which goes out of our nation, be it Singapore OR British Virgin Island, how are we getting affected by this ???
o Podium International is a legal company and it owning SAOL is in no way illegal.
o We (BizBasket) do not have a fixed date but as per our information and the officials statements e-shopping will start by 15th June. Company is trying to kick start this at the earliest, however, this might be postponed for some time.
o A VERY Crisp and Satisfactory answer given here too, we all were impressed.
o Ans Given - Whatever happens, we would never disclose our clients name in public. However, the entire client list has been submitted in High Court with a sealed NDA. Anyone who wants to know the names of the clients can directly approach court, sign the NDA and see the client list.
o All media corespondents were offered to sign the NDA and see the client list but none came forward
o BizBasket's Perception - Lets say Dell(just an example) wants to study Indian Market for laptops. They can either do an overall study or a study on any of their specific competitor (lets assume HP, just as an example) - Now - When a survey is created based on the market study for HP, every individual will think that the survey is for HP and it might have been conducted by HP, but in reality its Dell who is wanting to study HP's market. In This Scenario - SAOL would NEVER want to disclose Dell's name as its client, by doing so they would loose their client, their clients credibility, their own credibility and their business as well.
o Many people have this misconception that one person can take a max of 3 accounts. This has actually been misinterpreted. Once person can only have one account in HIS/HER NAME and 2 more accounts can be taken using the same contact details but different name.
o Ans Given - You cannot have more than one account/panel in your name. SpeakAsia has never/nowhere said that anyone can take more than one account. This has either been misinterpreted or mis-selling has been done
o You can have only one account in your name - HOWEVER - you can get 2 more panels for your family members by using the same contact details while registration, BUT, you need to be very careful in realizing the fact that all three accounts/panels MUST be in 3 different persons name.
o There are 2 tabs in the dropdown under "Personal Details"
§ My Details - This can remain same for a max of 3 accounts. This includes email id, phone number and bank account.
§ My Profile - This HAS to be different for Every Single account. With the launch of new website, this link would have an additional field of NAME as well
§ With the launch of new website, you would have to attach your id proof as well to your SAOLaccount, along with your other details. This would require PAN Card as a Must To Have. The attachment of PAN Card might happen in My Details or My Profile. If the PAN Card is to be attached in My Profile then for every account One PAN Card is a must. However, the dispute is that if you can use same email id to register 3 accounts (keeping in mind that your parents might now have an email id) then its also possible that your parents might not have a PAN card too. However, another dispute could also be brought into picture that getting a PAN cardfor any of your family members is not a problem.
o BizBasket's Perception - Stop Mis-Selling. If Anyone wants to purchase more subscriptions/panels then please suggest them to buy Sub-Panels instead of Main-Panels - and - If You or Your Family members Do NOT Have A PAN Card Then Apply For One IMMEDIATELY
o Ans Given - There has been NO approach done by any of the govt authorities asking/intimating/questioning SAOL about their business model or way of operation. Its SAOLthemselves who have approached these authorities proactively and explained them their way of operating; Business Model and Working Model and all the authorities have given a green signal that there is no issue with SAOL and they can continue working the way they are.
o All panelists have been requested to sign a petition so that any govt authorities who feel they still need a further clearance which needs to be given can probe SAOL and come out with an official announcement that All Is Well
o BizBasket - As this post has gone already so long, and the Future Plan will also be a very lengthy article, hence we have decided to post the Future Plans Of SpeakAsia as a separate article. This can be seen by tomorrow.
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