Following on from the arrest of Renu Sharma late last year, Mumbai’s EOW have now filed a chargesheet against the accused.
Articles under ‘Speak Asia Online’:
Despite it being over five years since Indian police first filed a First Information Report on Speak Asia, turns out there are still dedicated officers working the case. Two Speak Asia suspects were arrested last week, one the wife of Speak Asia CEO, Manoj Kumar Sharma.
This one totally flew under the radar, but it has come to my attention that Speak Asia’s Harender Kaur is wanted by Interpol.
If I could pinpoint the moment Indian regulators failed SpeakAsia’s victims, it would a Judge unfreezing the scheme’s bank accounts for a few weeks mid-2011. CID investigators immediately filed an appeal and had the accounts refrozen, but by then the damage had been done. Harendar Kaur, one of the masterminds behind the Ponzi scheme, rushed [Continue reading…]
Following on from the arrest of several Speak Asia ringleaders early last month, comes the announcement that prosecutions against the accused are expected to begin shortly.
Possibly setting a record for longest-running MLM Ponzi criminal investigation ever, news today from Indian regulators in the ongoing Speak Asia case. On the 31st of January, six new arrests were made by the Economic Offenses Wing (EOW) in Mumbai.
If we learnt anything over the roughly three years it took Mumbai’s EOW to file a chargesheet against Speak Asia, it’s that Indian regulators were woefully ill-equipped to deal with the smoke and mirrors that accompanies modern Ponzi schemes. With millions of dollars at their disposal, those who ran the scheme paid off an army [Continue reading…]
Two and a half years in the making and despite Speak Asia’s best attempts to thwart investigations into the company at judicial and local levels, Indian authorities on the 16th of December finally filed a chargesheet against Speak Asia. “The accused have been booked for forgery, criminal conspiracy and cheating among other charges under the [Continue reading…]
Following on from the arrest and interrogation of Speak Asia mastermind Ram Sumiran Pal on Tuesday, news broke today that his accomplice Satish Pal (no relation) had also been arrested. Following a grilling by Indian authorities, Satish Pal revealed that he ‘played a major role in’ the business operations of Speak Asia, working closely with [Continue reading…]
Despite the Speak Asia scam fleecing hundreds of millions of dollars from over a million email address accounts, to date only a dozen or so First Information Report complaints have been filed against the company. One of the main reasons for this has been the constant quelling of the scheme’s participants, under the promise of [Continue reading…]