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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 SPEAK 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.

PAPER RELEASE

PAPER RELEASE

PAPER RELEASE:

Speak Asia advisor finally confesses the company was running a Ponzi scheme
"He (Mr. Dandona) had 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 after which 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 had
found that that the webbased company remitted
Rs 700 crore out of India.
CNBC-TV18 had learnt that
the SFIO probe have also
revealed that the
company operated out of
India with four franchises
and used Haren Ventures
as its master franchise to
remit funds. The SFIO had
asked the ministry of
corporate affairs (MCA) to
investigate these
franchises.
The MCA had sought law
ministry's opinion on

of India: SFIO

'Speak Asia fraud @ Rs 2,000 crore'


Home Minister R.R.Patil
said that the Speak Asia
fraud was a big scam of
2,000 crore money which
was 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.

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 bogus.
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 was 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, which Indian government could not touch.
Speak Asia's COO was arrested along with others for financial irregularities and forgery.

Speak Asia is a scam.