TOPIC

SPEAK ASIA SCAM

INTRODUCTION

Speak Asia is a Singapore based market research

company. They perform many activities and online
survey is one of them. It came in India in 2010 and it
is growing very fast. They are having two
subscription plans:
1) Premium: Anyone can join it by depositing Rs.
11000 in company's account and he will get 8
surveys in a month, Rs.500 for each survey and it
makes Rs. 4000 p/m
2) Another plan is of Rs. 6000, in it a person will get
8 surveys but the amount is 2000 p/m.

HOW IT WORKS:

ANY INDIVIDUAL /GROUP/CORPORATE CAN EITHER SUBSCRIBE AS A PREIMIUM

OR STANDAD PANELIST , STANDARD PANELIST HAS TO PAY $120 DOLLOR
AGAINST TRAINING, SUPPORT AND FOURTNIGHTLY E-BULLETIN (26 ISSUES)
WHERE AS PREMIMUM PANELIST HAS $ 220 AGAINST TRAINING, SUPPORT AND
WEEKLY E-BULLETIN(52 ISSUES) AN INDIVIDUAL IS TO MAINTAIN MAXIMUM 03
PANEL CENTERS.EACH PANEL CENTER CAN FURTHER ADD UPTO 9SUB- PANEL
CENTER.

EACH PANEL CENTER CAN BE PURCHASED BY ADDING $200 ON A PANEL CENTER

ADDING SUB-PANEL IS SIMILAR TO TOPPING UP YOUR MOBILE BY ADDING YOUR
VALUE.

INDIVIDUAL/GROUP/CORPORATE CAN ALSO ASSOCIATE WITH SPAEK ASIA AS

PANEL SUPPORT CENTER AND EARN ADDITIONAL BONUS FOR SUPPORTING
PANELISTS. A PANEL SUPPORT CENTER HAS TO MAINTAIN MINIMUM $20000 AS
BUFFER STOCK AT ANY POINT OF TIME.

PANELIST TRAINER IS AN INDIVIDUAL AUTHORISED BY COMPANY TO TRAIN,

GUIDE AND MONITOR THE PANELISTS. ALL INDIVIDULAS WHO DESIRE TO
BECOME TRAINER HAVE TO UNDERGO THROUGH A SPECIAL TRAINING
PROVIDED BY THE COMPANY TRAINERS WILL BE PAID ADDITIONAL INCENTIVES.

Continued

STRATEGIES

CERTIFICATE OF GOOD STANDING BY SINGAPORE

AUTHORITY

IN TERMS OF LAW

CONTINUED.

CONTINUED.

REASONS:

Scam

money in movies:

Absconding Speak Asia official Ram Niwas Pal and his

brother, Ram Sumrin Pal, allegedly invested Rs 2.5 crore of
the scam money in small-budget movie Jeeyo Raja Phantom,
which features Yadav and is awaiting release.
Sources in Economic Offences Wing say that Ram Niwas Pal
knew Yadav before the film was made.
The agency questioned the actor to ascertain how Ram Niwas
Pal channelled the money to the producers. While investigators
do not plan to block the films release, they have asked the
producers not to recover their share once it hits the theatres.

PAPER RELEASE

PAPER RELEASE

PAPER RELEASE:

Speak Asia advisor finally confesses the company was running a Ponzi scheme
"He (Mr. Dandona) has confessed that the
company was running a Ponzi scheme," an
official close with the investigation of Speak
Asia, which had duped people on the pretext
of promising income for merely filling esurveys, told Money life.
Mr. Dandona was arrested by the EOW on
29th September, after it was learnt that he was
the proxy owner of Kritanj Management &
Allied Services and is linked with Speak Asia.
Kritanj Management is the master distributor
of Singapore-based Haren Ventures Pte Ltd
(HVP) for e-zines in India. Mr Dandona is
also alleged to be advising HVP and Tulsient
Tech Pvt Ltd and also transferring funds
collected by Speak Asia agents to Singapore.

The serious fraud

Speak
Asia remits
Rs 700
cr out
investigation
office
(SFIO)
probing the Singaporebased Speak Asia has
found that that the webbased company remitted
Rs 700 crore out of India.
CNBC-TV18 has learnt that
the SFIO probe has also
revealed that the
company operated out of
India with four franchisees
and used Haren Ventures
as its master franchise to
remit funds. The SFIO has
asked the ministry of
corporate affairs (MCA) to
investigate these
franchisees.
The MCA has sought law
ministry's opinion on

of India: SFIO

'Speak Asia fraud @ Rs 2,000 crore'

Home Minister R R Patil
Monday said the Speak
Asia fraud could be as big
as Rs 2,000 crore and the
money sent out of the
country. The minister
cautioned people against
investing
money
in
companies which make
unbelievable promises and
said economic offences to
the tune of Rs 699.70
crore were reported in the
state in 2010 alone.

18-month-old case
For more than 18 months now, the
EOW has been probing the scam, which
involved a fraudulent marketing
scheme. Some of the top bosses of Speak
Asia are absconding, including Ram
Niwas Pal and his brother.
Yadav, known mostly for his comic
roles, was summoned to the EOWs
office at the police commissioners
chambers. Additional Police
Commissioner (EOW) Rajvardhan
confirmed that investigators had
questioned the actor and recorded his
statement.

Conclusion
Speak Asia's compensation package is a pyramid scheme disguised by a token disguise of
surveys.
Speak Asia's corporate structure was revealed to be a fraud held by shell company on the
other side of the globe.
Speak Asia's headquarters in Singapore was revealed to be a sham.
Speak Asia CEO admitted that their clients do not exist, and any claim of large income are
misunderstandings.
Speak Asia claimed to be either a survey company or a market research company, then
denied being either. Its lawyer claimed it is a magazine publisher. However, its business
registration shows it to be none of the above.
Speak Asia is being investigated by multiple government agencies.
Speak Asia used cult techniques to whip up support for itself
Speak Asia delayed the Indian government from freezing its assets, resulting in 104
MILLION USD transferred out of India, where Indian government can't touch.
Speak Asia's COO was arrested along with others for financial irregularities and forgery.

Speak Asia is a scam.