As many of you who have been following the Speak Asia drama in India know, yesterday was the 17th of October Supreme Court hearing of a PIL filed by a group of panelists.
Among those who had to respond were Speak Asia themselves and the RBI.
Whilst the RBI didn’t show up, Speak Asia did… and according to their official press release, used their legal counsel to wholeheartedly mislead and lie to the Supreme Court of India.
Trumpeted as a victory, much has been made over Justice Dalveer Bhandari’s negative remarks against the RBI when he learnt they were a no-show.
Indeed Speak Asia’s own October 18th official press release relishes the moment;
The Honourable Justice Dalveer Bhandari of the Supreme Court strongly reprimanded the Ministry of Finance and the Reserve Bank of India, for not having filled the reply affidavit, to the writ petition filed by the panellists of Speak Asia.
Why the RBI failed to make an appearance, I have no idea. But understandably the judge was flustered.
And why shouldn’t he have been?
The complete and utter bullshit Speak Asia fed the Supreme Court was nothing short of fabricated lies.
On October 17th in the Supreme Court, the highest court of India, Senior Counsel for Speak Asia, Gopal Subramaniam, stood up and committed perjury.
Subramaniam (photo right) stood up and told the court that when compared to eBay (eBay do not pay commissions for recruiting members to the company, so the comparison is misleading), Speak Asia
was a much better and refined version as the consumers not only got great deals but could also earn reward points that could be used to buy goods and services.
It is of critical importance to understand here that between Speak Asia’s commencement of business operations in May 2010 until now, Speak Asia’s business model remained unchanged from when the company first launched.
That is to say, the original pyramid scam recruit game business model and compensation plan, that led to 1.2-1.8 million members signing up and makes no mention of product purchases or consumer power, was never officially replaced and/or updated.
Right up until the day the EOW seized the server hosting the Speak Asia website, the original business model was still in place and being used by the company.
The same business model that got Speak Asia into the regulatory trouble it is in today and sparked multiple criminal investigations and accusations of fraud by the EOW and CID.
The business model Gopal Subramaniam sold to the Supreme Court of India on the 17th October 2011 was a complete lie!
It would be like Subramaniam getting up and declaring that Speak Asia did indeed establish an office in India, based on nothing more than the announcement of plans to open an office up.
With this complete fabrication of a business model presented to them, is it any wonder Justice Bhandari reacted the way he did?
Being no doubt unfamiliar with the business model himself, Bhandari was sold a lie by Subramaniam (who has undoubtedly perjured himself in court) and then acted accordingly. Furthermore it appears Speak Asia submitted a 60+ document outlining this business model they never implemented or used a week before yesterday’s hearing.
In a court room full of Speak Asia and AISPA panelists, nobody had the guts to challenge the lies being presented to the court?! Nobody felt it necessary to stand up and state that the business model being presented was never used and was drastically different to the actual model used by Speak Asia for over a year?!
Hang your heads in shame guys. Neither the CID, EOW or RBI were there to challenge Speak Asia’s lies in court that day, but the panelists of Speak Asia certainly were.
Desperately wanting to receive their payments, it seems no matter the lengths of fraud Speak Asia would sink to (lying to the Supreme Court is unbelievable!), panelists of Speak Asia are all too willing to sit by and support such a morally bankrupt company.
Finally, Speak Asia’s official press release mentions that Subramaniam
lauded the extraordinary vision of the two Singapore based entrepreneurs and the unfortunate victimisation of the company.
Harendar Kaur we know is from Singapore, so who’s this mystery second Singapore based entrepreneur Subramaniam is talking about?
The next court case is due in early November, with the EOW, CID and RBI all present – My only hope is that someone is ready and willing to call out Speak Asia on its lies.
Speak Asia simply cannot get away with presenting to the highest court in India a business model they themselves never used.
Outrageous perjury doesn’t even begin to express what Speak Asia’s lying to Supreme Court of India represents.
A travesty of justice indeed.