Are the CID hunting Speak Asia’s CEO fugitives?
Shortly after Speak Asia global CEO Harendar Kaur siphoned off over one hundred million US dollars of panelist’s money to Singapore, she and fellow Indian CEO Manoj Kumar went into hiding.
Rumoured to be hiding out in Dubai, the last we heard from either of them was when Kumar put out a video following the arrest of Chief Operating Officer, Tark Bajpai.
The video was released in late July and in it Kumar promised Speak Asia’s panelists that he would be ‘back in Mumbai soon‘.
That never happened.
Instead, as investigations and legal developments against Speak Asia continued in India, Kaur and Kumar remained in hiding overseas. With both CEOs unwilling to face the Indian authorities and regulators, instead they opted to pull the strings from the safety of international borders.
International borders which finally, if the news reports are to believed, might finally come crumbling down around them.
Could this be the end of the silly cat and mouse nonsense Speak Asia’s management have been playing with the Indian authorities for some months now?
With Harendar Kaur’s base of business operations being Singapore, the Daily Bhaskar are reporting that India’s Criminal Investigation Department (CID) are setting their sights on Kaur’s business interests there.
The CID team is getting ready to proceed to Singapore for investigation and then take the key persons into custody.
The cid has also sought the help of union home ministry in this regard.
Along with the ‘union home ministry’, the Daily Bhaskar are also hinting at possible involvement of the International Criminal Police Organization, otherwise known as Interpol.
For now the main goal appears to be seizing Harendar Kaur’s business assets and retrieving as much of the panelists money she ran off with as possible.
With Interpol’s involvement however and the United Arab Emirates, India and Singapore all being member states of Interpol – arrests of Kumar and Kaur could very well be a possibility.
Obviously we’ll have to wait and see how these recent announcement develop and whether or not the CID can actually convince Interpol to get involved.
Meanwhile, over in fantasy land, Speak Asia themselves have been constructing an entirely alternative reality for themselves.
In an allegedly official free Blogspot blog titled ‘SpeakAsiaOnline.Marketing‘, apparently run by Speak Asia’s Corporate Marketing department (probably the only people still getting paid by Harendar Kaur), the company claims
We are at the moment engaging in various activities and actions that will ensure that we return to normalcy as soon as possible.
These activities include the approaching of ‘various authorities concerned to explain the business model and their approval on it‘ and the implementation of ‘ methodology for exercising the exit options‘.
Explanation of the business model and exit options, haven’t we heard this all before? Are Speak Asia’s management really that delusional to think a mere explanation of their painfully obvious pyramid scheme business model will make all this go away?
And as for exit options… does hearing that one of your company’s top priorities is enabling an option for everybody to demand a refund and leave the company really inspire any sense of confidence?
Naturally I can’t help but call into question the authenticity of the Speak Asia Marketing blog. Why would a company sitting on hundreds of millions of US dollars opt for a free blog domain?
Surely the Indian authorities would have no trouble getting Google to shut it down if Speak Asia broke any online sanctions currently in place against them.
AISPA secretary Ashok Bahirwani however claims the blog is authentic. In a statement published yesterday Bahirwani wrote
I have got confirmation that the Blog ‘Speak Asia Online Marketing’ is indeed a company initiative.
The letter posted through this blog site is authenticated to be from the desk of our Global CEO Mrs. Harendar Kaur.
Personally I think this is a bit of a weak connection seeing as anyone could have doctored up a letter and published it. With Speak Asia’s official domain still seized however, who knows.
Quite the sad state of affairs for a company that once published their own flashy videos and ads all over print and television media to be reduced to a mere free blog service.
Although with Harendar Kaur almost certain that she’s not going to make any further money from Speak Asia’s panelists and the no doubt expensive lawyer fees eating into her siphoned off money, I guess every penny from here on out counts.
Story is confirmed by IBN Live:
http://ibnlive.in.com/news/speakasia-case-cid-to-seek-interpols-help/180387-60-121.html
The Union Home Ministry is probably “Ministry of Home Affairs”, basically “Ministry of Interior and Homeland Security” for India.
http://en.wikipedia.org/wiki/Ministry_of_Home_Affairs_(India)
Awesome. Wonder how this will be spun.
No doubt Harendar Kaur and Ashok Bahirwani will put out a press release claiming it was infact none other than Speak Asia who suggested the CID enlist Interpol to apprehend them and how this is all ‘a reflection of experienced legal counsel’.
It’s interesting that IBN are claiming Kaur is now in Singapore with Kumar shuttling between Dubai and Singapore. I wonder what business interests the two have in Dubai (or why they obviously have matters to attend to there)?
you guys don’t know anything.
Well that’s a well rounded and balanced response.
I hope Speak Asia’s legal counsel are better than that.
@Anj — ah, the standard “**** You!” answer. What the desperate say when they ran out of arguments!
We don’t claim to know things. We simply cite INDIAN newspapers on the matter. Clearly, you’re not willing to share, so what does your post mean besides claiming indignity?
you don’t know anything precisely because you’re getting your information from the ‘press’.If you want to read a really good fairy tale you should read the article in the’ times of india ‘dated today ie 7th sept.If I can find one line of truth in this brilliant journalistic work I will personally meet the @@@@ who wrote it and thump his back.
The media are quoting the CID as a source directly.
You on the other hand are getting your information from…?
@anj — well, can you cite your source, since you clearly don’t trust the press? Or is that one of those “an anonymous source said” type of information? And can such information be verified (NOT by SpeakAsians)?
MoneyLife busts bubbles of various SpeakAsia panelists:
http://www.moneylife.in/article/speak-asia-officials-on-the-run-panellists-feel-the-heat-from-repayment-pressure/19553.html
Some choice summaries:
* Other Indian banks (not RBI) have frozen accounts of various recruiters for SpeakAsia based on tax department investigations.
* RBI had NOT frozen SpeakAsia assets. SpeakAsia officially has NO assets in India (under its own name). Assets frozen are on orders of CID and belonged to various associate organizations that worked with SpeakAsia.
* SpeakAsia’s counsel filed a writ in Supreme Court, then withdrew it. (Some panelists refuse to believe this)
* SpeakAsia request postponement of meeting of RBI (which was ordered by Bombay High Court). Why? Because its principals are not in country or in jail.
* Why is the principals in jail, despite being granted bail? Because Bajpai won’t leave. He is afraid of getting arrested by other police departments.
Oh, that’s just dandy excuse, isn’t it?
With people setting off bombs around India’s high courts and Speak Asia panelists’ anger rising, Bajpai is probably safer in jail than out.
@Oz — I do believe that bombing is in Kashmir, a historically contested region…
It was in Delhi, India’s capital.
http://www.guardian.co.uk/world/2011/sep/07/india-high-court-bombing
It’s been grossly underreported due to all the 9/11 hype.
I must be thinking of some other case then. My apologies.
(BTW, did you know that one of the guerilla groups that conduct bombings declared death on fraud companies that cheats Indians, ordering those companies leaders to turn themselves to police or else they’ll suffer the consequences?)
The Delhi bombing or the Kashmir one??
Here’s the old link:
http://www.telegraphindia.com/1081023/jsp/frontpage/story_10007881.jsp
Phwoar 2008… looks like they never delivered on their threats!
Probably got beat by government troops. It’s a funny item nonetheless. 😀
Oops, WRONG LINK! Argh!
http://kanglaonline.com/2011/02/kcp-mc-warns-network-agents-to-surrender
Saw this report today from the Times of India stating that
Not quite sure what moving them around will do.
Meanwhile AISPA are focusing on PIL’s
So the compensation plan isn’t proof alone?
(I’d link to the AISPA source but due to terrible php coding the news isn’t archived so the link will point to some other news if and when they update their site).
Transfer of custody is confirmed:
http://ibnlive.in.com/news/speak-asia-online-fraud-four-officials-held/182855-60-114.html
The way India legal system works is rather confusing, too many levels, at least to me.
That “official blog” just released “exit option” for all panelists. Apparently, “subscribers” to the eZine will get 90% of their money back. If they paid 200 rupiahs, they get back 180.
Not a word about the supposedly ‘earned bonuses’. But then, we know that to be pyramid money.
Doubt it’ll satisfy the Indian regulators and police.
Interesting article on the Bhaskar:
http://www.thebhaskar.com/2011/09/speak-asia-no-exit.html
Bajpai was in hospital following an operation?? Why wasn’t this made public until now?
Speak Asia themselves were touting the ‘he’s just hiding in jail because he doesn’t want to be arrested over and over again’ line the whole time!
It’s interesting that they’ve finally been charged with something;
I guess that means Speak Asia can’t proclaim they haven’t been charged with anything anymore.
Whether I get back my subscription amount or not ?
What will be the future of SPEAKASIA ONLINE SURVEY ? Whether the godaddy domain is working for SPEAKASIA or not ?
Whether the exit policy of 12th Sept.’11 is real or fraud ?
@Sankar
Irrespective of their announced ‘exit option’, this depends entirely on the outcome of Speak Asia’s ongoing legal battles with the Indian authorities.
If Speak Asia win their battles, the surveys will no doubt continue. As it currently stands, from what I understand their website has been seized and is in the custody of the EOW of Mumbai.
This hasn’t stopped them from starting up an alternative marketing website though… but whether or not operating as the online mouthpiece under the guise of the marketing department is far enough removed from management to escape the wrath of the authorities remains to be seen.
I have no reason to believe it’s a fraud, however note that there is no verification of the information sent. Also note that by completing an application, nothing is going to happen until the outcome of the investigations and cases pending and ongoing against Speak Asia.