EOW to slam Speak Asia with ‘watertight’ case
For the past few months Speak Asia supporters have predicted the legitimacy of the company on one thing and one thing only.
The fact that the EOW has not filed a chargesheet against Speak Asia.
Worringly, Speak Asia members assert that because nothing has been filed and the fact that a showdown between the EOW and Speak Asia in the Supreme Court is just days away, this means that the EOW have nothing on Speak Asia.
Ergo, this means that Speak Asia are simply going to waltz into the Supreme Court and be given clearance to restart their pyramid scheme again.
Shattering this fantasy of course are reports quoting officers of the EOW that have appeared over the past fortnight.
Combined with earlier reports that filtered in over the past month or so, the divide between reality and the illusion Speak Asia has been force feeding it’s members since the authorities moved against them couldn’t be deeper.
The obvious answer to why the EOW or CID haven’t as of yet filed a chargesheet against Speak Asia is that the criminal investigation each department is conducting into Speak Asia, aren’t finished.
I’ve been citing this for months and today it was confirmed by the EOW themselves.
Police officials who are investigating the case said that it is a huge case and the investigation is spread over several cities.
“We are going through a lot of documents and gathering evidence. Some arrests were made three months ago and we are preparing the reports”.
No doubt the speed in which the investigations are carried out is not helped by Speak Asia hiding it’s officials from the authorities in hospitals, overseas in Dubai, Abu Dhabi and Singapore or as is currently the case with COO Tarak Bajpai who is on the run, within India itself.
Commenting further on the EOW’s criminal investigation, Chief Investigator B P Shelke stated that the reason the EOW is being so thorough in its investigation is that the ‘aim is to file a watertight chargesheet‘.
And fair enough. What with all nonsense being pumped out of the Speak Asia member sites on a daily basis (is there an Indian religious holiday Speak Asia members haven’t whored out and connected to Speak Asia?), there’s a lot of misinformation out there.
Not withstanding the stunts Speak Asia they themselves have pulled. Some more recent examples of course being
- the cease and desist notice the company had Phoenix Legal send the Times of India for simply quoting the EOW
- an exit option that was utterly useless given that it wasn’t connected to any member database and lacked any level of verification whatsoever
- public claims that they are ready to restart payments to panelists knowing full well that’s not going to happen without Indian banks on board, and also knowing full well no Indian bank will touch Speak Asia until the criminal investigations into the company are concluded
Having gone before the Supreme Court unopposed and using the opportunity to lie about their business model, Speak Asia was set to face off against the RBI, EOW and CID on November the 8th, but this appears to have been now delayed until the 14th.
Note that I haven’t seen any official documentation supporting this claim but several sources have cited this new date so I’m including here only as speculation until I see proof positive.
Regardless, when Speak Asia and the authorities do face off in court, it’s no doubt bound to be pure entertainment to watch.
To date all Speak Asia have done is lie about their business model to the Supreme Court and possibly even the RBI (if they presented the same ‘products’ based business model they never actually used but only announced).
The company also filed a cease and desist against the Times of India last week, but as evidenced by the latest article by Mateen Hafeez today, the Times are clearly calling Speak Asia’s bluff.
Any why shouldn’t they? Having quoted the EOW directly, the Times would just rock up to court and state as much, leaving Speak Asia to take launch a defamation case against the EOW themselves. Something the company obviously isn’t going to do as they don’t have open access to the EOW’s criminal investigation against them.
Meanwhile, the EOW have publicly stated that Speak Asia
- created 800 fraudulent panelist accounts
- had no corporate clients for their surveys, instead opting to commission unsolicited surveys they claimed were from clients
- a signed confession from former financial consultant of the company, Sanjeev Dandona, claiming that the entire business is a ‘ponzi scheme’
To date Speak Asia have no refuted the first or second claim and have only refuted the third claim by issuing a press release stating the claim was false ‘because we say so’.
Naturally ‘because we say so’ won’t hold up in court and it’ll certainly be interesting to see how Speak Asia defend their painfully obvious pyramid scheme business model in court, on top of the other claims the EOW have levelled against the company.
Speak Asia’s actual business model (the one and only business model the company ever used) is a simple plan where members pay a membership fee to the company and in return make either $7-$20 a week filling in fake surveys, or rake in large commissions via a direct recruitment commission or a pairing binary.
You can of course read more about the company’s business model in my original review of the Speak Asia, dated March of this year.
Any other business model the company, or anyone else for that matter tries to tell you Speak Asia was using or used is a lie. I honestly can’t emphasise this enough:
Speak Asia used one and only one business model to date and it had nothing to do with products, either selling them or claiming them as rewards.
The company did announce plans to initiate a business model along these lines, but it was never implemented and remains nothing more than a plan. Furthermore, any such plan in no way negates over twelve months of operation under the actual business model of the company – which is what the EOW and CID are investigating the company over.
That alone should be enough to shut the company down once and for all in court, but of course as mentioned above, it’s only the tip of the iceberg as far as the EOW’s investigation goes.
What happens next in the Supreme Court cannot obviously be predicted (despite nonsensical guarantees of ‘we are bound to win and we’ll definitely win’ by COO Tarak Bajpai and Speak Asia members), but in all honesty if anyone can provide how on Earth Speak Asia are going to defend the charges laid against them by the EOW, I’m all ears.
To date all I’ve heard is a bunch of blind faith baseless rhetoric… and to be quite honest, Speak Asia and its members are utterly kidding themselves if they think that’s going to hold up in court.
Bring on the court case guys, Speak Asia vs. the EOW’s ‘watertight’ case based on an extensive and thorough criminal investigation into the company;
Who do honestly think is going to win here?
Footnote: Whilst I appreciate that Speak Asia’s activities mostly affect Indians in India, please respect that this is an English blog. Comments in Hindi will not be published.
NO,children,saol is going to argue against every ALLEGATION made by the eow ,with facts and proof ,and only then be cleared to restart their business.
once saol has the permission of the court to take back it’s site from the eow ,only for the purpose of making payments ,all the info collected will be verified against the site.
the eow FOUND 800 ‘fraudulent ‘ accounts.they have to prove the company management was responsible for creating these accounts and not some oversmart franchisee or panelist.
saols business model will clearly explain surveys and survey income.since i’m not a blabbermouth like the eow ,you’ll have to wait to find out.
dandona is NOT on saol’s payroll.he WAS the financial advisor to kritang,the master franchisee of saol.can dandona provide proof about how saol was a ponzi scheme ,or does he expect the supreme court to just take his word on it?if this is so ,YOU should stomp into our court, and scream ‘ponzi scheme ‘on top of your voice.the judge will immediately throw saol out.
Speak Asia can argue all they wan’t.
Common sense dictates the EOW wouldn’t make allegations if they hadn’t ‘water tight’ proof from months of investigating Speak Asia.
So why announce an exit plan and set up a useless website before that happens?
Everybody knows it was utterly useless to do so and given that anybody can submit information that is unverified and not checked, no doubt members will have to re-enter their information again if Speak Asia ever regain control of their website.
The exit option served no other purpose than to dupe members into not turning against the company and filing complaints.
How do you know what the EOW have or don’t have?
Here’s how a criminal investigation works, you find proof of something before you allege anything. The EOW know full well they’ve got to go to court and prove their claims.
Don’t Speak Asia verify their accounts? Blaming franchisees for fraudulent accounts is as absurd as saying panelists are responsible for transferring illegal amounts of money into Singapore because they are the ones that gave Speak Asia the money in the first place.
(I’m not saying Speak Asia illegally transferred money, just using it as an example).
Speak Asia are wholly responsible for any fraudulent accounts found in their system.
What’s there to explain? They were made up and existed only to keep membership money rolling so everybody could be paid their recruitment commission fees and daily binary pairing bonuses.
Strong enough connection regardless…
I think the far more pressing question is what did the EOW confront Dandona with to warrant such a confession. Why would someone not on Speak Asia’s payroll cave and admit the company is a scam?
Whatever the reason, rest assured the EOW wouldn’t publicly release this information if they didn’t already have proof to back it up in court.
Don’t need to, the reality waiting for Speak Asia in a courtroom against the RBI, CID and EOW speaks for itself. Let’s not forget that the CID haven’t even gone public with how their investigation is going and what they’ve found… can’t wait to hear from them in court!
because he was THROWN out from kritang?
the grapevine buzz is that saol had complained to the eow about bad business ethics of kritang and dandona before all these problems started[i cannot confirm this as of now.will try to find out].
the very fact that the eow is going public with it’s allegations ,stinks of trying to prejudice the mind of the court.if the eow was so confident ,it would have quietly built up it’s case ,and hit saol with a blunt instrument in court.
why is it relying so heavily on the media to build up a crescendo of doubt before coming to court?this is not how heavy duty investigative agencies work. this is how politicians work,building up the public and judicial mood ,so to say.
@anju
Have you actually checked how they work, or do you ‘feel’ they should work by a specific set of rules?
Most agencies will release some information to the public during an investigation, as a normal part of their job. They will not release any evidence before the case is tried in the court. It’s a difference between evidence and pubic information.
There seems to be some distance between what you feel is right and the real world?
@anju
Sounds too convenient. And why would Speak Asia go to the EOW to complain about a business… rather than just sever ties with them?
If Speak Asia complained after the criminal investigation began, then that’s just laughable.
So when Speak Asia update the public, they are heroes… but when the EOW do it, they are demons.
I personally enjoy reading the updates they provide. Of course the damning developments of a criminal investigation into Speak Asia aren’t what its members want to read about, but for everyone else, it’s a win to be able to read about how things are going.
Yawn, questioning the motive rather than the information. When I suggested the reason no charge sheet had been filed, I worked for Amway or Nmart… now that the EOW have confirmed it they’re part of some big conspiracy theory.
Address the information the EOW have presented, nobody cares about your silly conspiracy theories as to why they’ve released the information.
The reason is obvious, it’s in the interest of the greater public good. Criminal investigations get reported on all the time.
@M_Norway
Anju’s just getting her nickers in a twist because the EOW’s public statements completely trash her ‘see, the EOW have beeing doing NOTHING for months, Speak Asia is going to totally WIN!’ nonsense herself and all the other Speak Asia members have been going on about for the last few months.
You’re not the only one to notice this! At times, discussing Speak Asia with its members is like entering some paralell universe where pyramid schemes are an honest days work and the whole freaking world is against you.
@M_Norway
the eow handles hundreds of cases at any given time.huge cases, with massive amounts of funds involved.
do we get regular write up’s from the eow on their investigations into these cases?NO.NEVER.
the uniqueness of the saol case ,is in that ,it involves a very large number of ordinary citizens,and the eow is desperate to get a chunk of us on their side.but nobody’s budging ,so they have to keep giving press releases on a weekly basis now ,since they are truly out of time.
soapbox refuses to acknowledge this,but if the eow can turn up in the supreme court with 200 fir’s in it’s bag the court will take a serious view of the matter, and not give urgent relief to saol.all the eow has, as of now ,are complaints from two chest beating ngo’s ,and a single panelist.the court will wonder, how there are not a large number complaints against a company ,which has apparently duped it’s customers.
as time moves on ,we see the eow talk less about how saol is involved in money laundering or is a ponzi scheme,and more on ‘fradulent ‘ identities and ‘money trails’ and ‘fake surveys’.
more than trying to prove that saol runs a ponzi scheme,their investigations are tending to lean to saol ‘functioning’ is fraudulent,or that saol’s ‘money transfers’ are illegal.well,good luck with that.
ps-i don’t merely ‘feel’ i’m right ,i’m sure i’m right.there are many things about the eow investigation and saols stand that some speakasians KNOW, but cannot discuss on open forums.hence our belief in our victory may sound strange, seeing that all you are privy to is the eow’s ramblings to the press.
Waaah here’s a tissue. Speak Asia threw themselves into spotlight with their press releases and advertising campaigns. As far as scams and MLM goes, there is no doubt that this is a high profile case in India.
There is absolutely nothing wrong with keeping the public updated on how a criminal investigation into Speak Asia is going. And why are we even discussing this anyway? You’re not seriously going to claim persecution here are you?
Honestly Anju, crying about why the EOW are releasing information on their criminal investigation is a waste of time. Either challenge the EOW’s information with proof of your own or deal with it.
Aaaaaaaand more baseless conspiracy theories from Speak Asia members.
Yes, now the EOW want money from Speak Asia. Yawn. How quick the accusations fly when the scam is ripped apart and spamming ‘hahaha no chargesheet has been filed JAI SPEAKASIA! We will definitely win!!!‘ all over the internet just doesn’t cut it anymore.
Nobody cares about FIRs now, we’re beyond that – They’re called first incident reports for a reason.
Speak Asia are defending a months long criminal investigation by the EOW against them that directly accuses them of wholesale fraud and running a ponzi scheme.
Do you seriously not get this?
How do you know what the EOW has or doesn’t have? Honestly, more baseless speculation…
Speak Asia’s business model is enough to cruicify them. Any other evidence is just making sure they can’t weasel out of the hearing with more lies.
That’s because they’ve already established this. The EOW are releasing new information as they see fit. Unlike the Speak Asia spam sites, they don’t feel the need to rehash the same information a dozen times.
In the last month alone the EOW have accused Speak Asia of 800 fraud accounts, being a ponzi scheme (signed confession), laundering money through Harendar Kaur’s 20+ companys, making up fake surveys and lying about having corporate survey clients.
Hopefully they’ll also point out that Speak Asia has lied to the SC about their business model too and focus squarely on the actual scam model the company used.
See above. None of the above publicly printed claims to date have been retracted by the EOW.
Well, good luck with that.
And now you’re claiming to be privvy to the inner workings of the EOW’s criminal investigation into Speak Asia but of course you can’t ‘discuss on open forums’.
Of course you are Anju… of course you are.
Kindly comment on this article by a popular TV Journalist: http://ibnlive.in.com/blogs/bhupendrachaubey/213/62867/lessons-from-the-2g-scam-trial.html
You want me to comment on this? Rightio.
1. Speak Asia never operated in any other country, other than using them to funnel money. All panelist recruitments existed in India and India alone.
2. What Speak Asia was doing has always been illegal. You can’t take membership money from members, pay out commissions with it, claim to have corporate survey clients when you have none and claim to run a succesful legitimate business.
Whether there were complaints filed against it or not, Speak Asia’s business model is a clear cut pyramid scheme since the company started operations in May 2010.
I thought Bajpai is now in hiding, and before that was hiding out in a hospital?
Also, dynamic entrepreneur? This Bhupendra fellow is doing quite a poor job of hiding his objectivity, popular journalist or not. Anyone who gets involved in such an obvious ponzi scheme like Speak Asia deserves no such title. Scam artist sure, but dynamic entrepreneur.
That’s almost as bad as ‘national hero‘.
As for not producing evidence, why would they? The EOW/CID haven’t presented their case in court yet because they haven’t wrapped up investigations (or they have by now, but only just recently).
I believe everyone is set to rock up to court in mid November now, at which point we’ll see the evidence to back up the claims of Speak Asia being a ponzi scheme (the business model), evidence of 800 fraudulent accounts (gleaned when the EOW seized the website server and database), money laundering trail through Singapore, Dubai and Abu Dhabi (through bank records) and proof there are no corporate survey clients (documents showing the commissioning of the surveys from within India itself on no commisioned basis with any third party).
Sounds to me like Bhupendra might have received the same lies about Speak Asia’s business model as the company presented to the Supreme Court and RBI.
Either that or that’s a pretty big fail on his part in researching Speak Asia properly. Oh, and if you want to drag the US legal system into it – companies like Speak Asia with blatant pyramid scheme models wouldn’t even make it to court, let alone get away with lying about business models they never even used.
They’d have been shut down back in May and that would have been the end of it. As I’ve said before, Speak Asia’s business model (paired binaries relying on new recruits) might be new to Asia, but the rest of the world has been dealing with these pyramid schemes for decades now. It’s not some new dynamic industry, it’s just a rehash of a scam that’s been going on since the 1920’s in different incarnations and variations.
well the press is the press,what can anybody do? whether they are for us ,or against us ,there will always be factual errors.
you always describe saol’s business model away in a sentence or two,why would the eow require 6 months to write these two sentences on a piece of paper and hand it over to the judge?
why is the rbi sitting on it’s hands?
if they really had a case ,they would have finished saol long ago.
Because they want to make sure they can counter every fake explanation SAOL may throw their way.
Because it’s a BANK, not a law enforcement agency.
Now that’s pure speculation on your part.
After the six months of inquiry they didn’t prove anything. A period of Six months is not a short period and it has been proved that If they get another six months for inquiry they will not be able to prove anything regarding Speak Asia. Mr. Chang, you say ” they want to make sure they can counter every fake explanation SAOL may throw their way” but I would like to say that they want to make a story in which they try to make themselves safe because there is nothing to prove and they started a baseless battle against Speak Asia. Now, they are doing nothing, they are sitting idle in their office and making / writing a story that will be a safeguard for them.
@Chandra Shekhar
to begin with the eow was not interested in investigating saol.the company was working for one whole year and nobody thought anything was wrong including the eow and the rbi.
some stupid ngo complained to the court and the eow was forced by the court to investigate saol.
all the court wanted to ascertain was whether the company was running a ponzi scheme.that was enough to shut down the company instantly.what the eow needs to show is that saol had NO source of income and hence it was ponzi.
but the eow has gone offtrack and is instead finding ‘fake id’s’ and following the ‘money trail’ to singapore[duh.where else would it go?].they called the franchisees and let them go[NO arrests],then they started threatening to arrest panelists ,for saying the eow dint have a case.do they expect panelists will be able to give them irrefutable proof that saol is ponzi ?
the behavior of the eow in-
threatening panelists
lying about receiving 100 ,then 200 complaints
lying about seeking interpol help and issuing red corner notices
lying about dandona’s confession[saol has a copy]
lying about khandor’s role[saol has a clear contract with him]
lying about tarak jumping bail[his bail is still alive and uncancelled]
clearly show the eow has lost the rope and is merely fumbling in the dark.
I see a lot of accusations of ‘lying’ there, when the truth of the matter is you or anyone else hasn’t seen the EOW’s evidence.
As for Speak Asia’s survey income, I already debunked the ridiculous claim that Speak Asia had any corporate clients.
In order to just match the revenue generated by membership fees, Speak Asia would need to charge 3.8 million USD consistently for a year.
What moron companies are paying Speak Asia 3.8 million dollars a commissioned survery for 52 weeks straight? Surveys in which one respondent can reply 10 times?
It’s just nonsensical to suggest Speak Asia had corporate survey clients, and the 3.8 million USD figure only increases if the company is to prove they made more from commissioned surveys then they did from membership fees, which they would have to in order not to be a pyramid scheme.
Aren’t Indians supposed to be good at math?
For your kind information Mr. Oz, I’m a franchise of SAOL and Mr. Shelke (Inspector of EOW) had sent me a mail in the month of August 2011 in which he called me Mumbai EOW office.
I went there and explained boldly and frankly each and every question of Mr. Shelke but nothing against the company. I produce each and every paper even the contract papers between me and SAOL. Mr. Shelke and some others officials saw my whole document and lastly what happened Mr. Oz?
They told my simply and plainly that I could go, there was no need to call me but it was a routine work of EOW. Like me, all the franchises went there before and after me and the reaction of all were same. Now, tell me, why are you overestimating the EOW? What do you want to say regarding EOW to all the people?
Do you want to say that EOW is something like Vampire or Dracula who can gallop all the Speak Asians and the franchises and the officials of SAOl?
Mr. Oz, firstly go in the field and try to collect the matters, the genuine matters, the real matters and then try to expose the illegality of the company. The matter is totally different and you are trying to prove yourself a learned, a scholar in this web site.
Why did EOW not arrest me and send me to jail at that time? If I was wrong, EOW must arrest me. My dear freiend Oz, now EOW is trying to cover his shameful/guilty face behind the curtain. But they will also be exposed not within a long time, wait dear Oz they will be exposed very soon.
Firstly, you must visit the EOW office and collect the correct information. Don’t boast here I mean to say on this web site.
Dear Mr. Oz now see the emailed matter which EOW send me on 6 August 2011 in the name of B.P.Shelke. Whatsoever I say, don’t say without any proof.That is the reason, I told you, go in the battle field, visit the EOW office and watch the scene and collect the proof and after that say anything. Now see the matter that had been sent to all the real franchies :-
Dear Mr. Oz, you can see that in the above mail, they say —- “During the course of investigation of said offence, it is revealed that, you are one of the Panelist / Franchise / Distributor of Speak Asia Pte. Ltd.”
Now tell me, from the month of May 2011 to month of August 2011 they only revealed during their top level investigation that I’m one of the Panelist / Franchise / Distributor of Speak Asia Pte. Ltd. and that was the great offence of mine.
and from the month of August 2011 to 5th November 2011, what or which type of solid proof/proofs did they get/collect against Speak Asia ? Nothing. Not a single solid proof. They were trying hard, they were running here and there for solid proof/proofs but alas ! they can.
Now, they are doing useless and baseless work / duty against Speak Asia. They arrested and threatened some local panelists but got nothing. They tried to break the unity of Speak Asians but failed.
They failed on their each and every wrong and dirty step. Now the time has come they will completely be failed in their conspiracy against Speak Asia. Wait and watch dear Oz, the ball is in the court of Supreme Court and all conspiracy will be revealed in front of our judges but for that we all will have to have patience.
@Chandra Shekhar ..
You say EOW didn’t file charge sheet for 6 months, hence there is no solid proof, well this is a 2000+ crore scam.. and they need to gather every possible proof including money trails etc to make a water tight case. The Law doesn’t work like SOAL (Purely based on trust of its members, or should I say foolishness)
You are a franchise, so that doesn’t mean they could arrest you. Their target is the main culprits who are running the show.
And on the other hand… even Speak asia never released any information to the public to proclaim their innocence? All they say is, if you want detailed information then you need to sign a Non disclosure agreement… with whom?? Everyone in top management is either in jail or absconding..
And no company has every claimed that they do business with them. Are all those companies (including YUG/Hisense) never claimed that they work with Speakasia? Why they are ashamed to admit?
And no one till now stated who is paying 20 Lakh x 500 = 100 crore for a single survey?? which makes 200 Crore per week and around 10,000 crore per year for sample surveys of 20 Lakh panelists… LOL
There is no any scam. What is scam ? Do you know the word scam? You can use the word Scam when Speak Asia disappeared / flee away from India with the collected money of the panelists.
Not a single panelist claims that they have been cheated by the company. Not a single panelist says that company has never paid a single amount for their work. Not a single panelist say that company is liar/fraud etc.
A person who lodged FIR against the company says that he is not being paid by the company from the month of May 2011 onward, a NGO claims that something is fishy in the matter of the company, a MP says that Indian govt. should investigate in the matter of the company because he personally thinks that there is going to be a scam, and on the basic of these proofs, you are saying it a SCAM.
My dear riyfkm those who do scam, never fight in High court and Supreme court, they never appeal in the courts, rather they try to be underground and to disappear.
Now,No one say Speak Asia is a SCAM. Even the Mumbai high court and the Supreme court of India didn’t say anything against the company, they never used a the word “SCAM” for the company. Who are you to say or use the word “SCAM” for the company.
If the judicial procedure say “SCAM” for the company, all have to accept this. Why shouting on house tops only against Speak Asia ? On the other hand there are also number of companies already flee away with huge money of people and all the media and news channels didn’t say anything against them.
Go and collect information and proofs them discuss with any one. I don’t understand who you all are and from where you collect such baseless information.
As far as I think, you all may be nice story tellers but not nice analyst. Go and read deeply about Speak Asia and EOW….you deaf and dumb.
@Shekhar
You’re complaining about being called into the EOW office for an interview and not being arrested?
You’re not involved in the running or finances of the company so why would they arrest you? And what on Earth does not arresting you prove anyway?
Quite obviously the EOW were evidence gathering and by calling multiple franchisees in, making sure there were no conflicting accounts as to exactly what their role was within Speak Asia.
Honestly, it’s a non-issue and most likely has nothing to do with the criminal investigation at large other than covering their bases.
If Speak Asia mention their franchisees and incorrectly state what they do in court, the EOW can say ‘No hang on, we’ve spoken to them – this is all they do’.
That’s pretty much the extent of your involvement in the EOW’s criminal investigation.
Have you seen Speak Asia’s business model?
Money comes in from memberships and people are paid a commission out of this money. It’s a scam.
Do you know what a scam is?
That’s how a criminal investigation works, they don’t share anything until it’s presented in court. They can however publicly release information on what their evidence proves.
Payment to panelists does not indicate the absense of a scam. Where the revenue comes from does, and if it’s membership fees, as is the case with Speak Asia, it’s a scam.
Who exactly is fighting in court? Lawyers?
We’re talking over a hundred million US dollars here. Even if Speak Asia pay the lawyers, the CEOs are already hiding overseas and owner Pal is who knows where by now.
They are all ready and in place to dissapear if it falls apart in the Supreme Court. We’ve already seen Tarak Bajpai demonstrate this when he fleed the hospital upon release.
If Speak Asia’s management were actually in court defending the company, that’d be another matter – but being the scamsters they are, they’re not. Instead they’re in hiding.
Why would they until a case is closed and ruled upon? Do you know how a court case works son?
Irrelevant, the actions of other companies in no way legitimise Speak Asia.
If anything, let’s hope an official ruling against Speak Asia makes it easier and more streamlined to shut down other similiar companies who rely on membership fees to pay commissions.
And that’s what irritates you. I myself have no vested financial interest in Speak Asia, I just follow MLM.
I analyse and review companies like Speak Asia all the time, pushing plans that rely on recruitment and universally they are recognised as scams the world over.
Yet here we are in India, where apparently hordes of uneducated people have convinced themselves it is a viable business model…. it’s quite laughable really, if it wasn’t so sad.
The only other place on Earth I’ve seen such vehement denial of the ‘membership money funding commissions’ model was in Africa over TVI Express. Make of that what you will.
in a pyramid scheme, the compensation plan is the same from the top to the bottom.there is no provision for franchisees who have a completely different compensation plan from panelists.i remember having a discussion with soapbox on this, where he refused to believe saol business structure had a master franchisee followed by normal franchisees [around 130] followed by the panelist each with independent compensation plans.
chandrashekhar also mentions the signing of contracts for franchisee ship with saol,another thing soapbox would not concede[since it was not on the website].the website is for panelists, not for franchisees and associates ,so why all these details need to be mentioned on the website necessarily,escapes me.maybe the company should have mentioned it for more clarity ,but not doing it ,is not any crime.
well,have YOU?don’t fall back on ,the site clearly says this or that.have you seen the 60+ page document DETAILING the COMPLETE business model of saol.have you seen the 700+ page financial documentation which supports and carries the business model?
just like the indian media got their needle stuck at ‘the company lied about it’s clients ,hence proved scam’,your record got stuck at ‘i saw what was written on the site, and from that deduced saol is ponzi’.well,every detail is not on the site ,which was simplified for public consumption.
is it written on the saol site that speakasians are uneducated[since you only believe the written word]?did you find some snippet on the net to prove this[as is your style].IF saol manages to come out clean will you return this compliment to yourself, nicely tied up ,with a bow on the top?
http://www.mumbaimirror.com/article/2/201111052011110502170224455bbc28b/Big-case-moved-from-EOW-to-CID;-timing-of-transfer-raises-questions.html
the above is from today’s mumbai mirror.on the surface of it it seems innocuous enough as it talks about some old, half dead ,LONG investigation undertaken by the eow.this case is not on the memory radar of the pubic in general .an internal matter, of investigations against this MLM,being transferred from one agency to another, is suddenly big news deserving prime print space.
there is a casual mention of OTHER such companies under eow investigation wanting their cases to be bunched together under the state cid.
there is a casual mention of investors wanting the investigations to shift from one agency to another.
deeptiman tiwary, the author of this article has been actively following and reporting on saol.
the timing of this report ,just days before the eow is to submit it’s chargesheet to the supreme court,is suspicious.
i won’t be surprised ,if the eow has plans afoot, for a major face saving operation.
The other explanation, of course, is that EOW’s jurisdiction does not extend to “criminal prosecution”, which is the domain of CID, so it could be viewed as an escalation of investigation, instead of “face saving”.
Does EOW routinely bring “criminal” charges against companies and its officers? Not being familiar with the Indian justice system, are there separation between civil vs. criminal offences?
@anju
A seperate compensation plan doesn’t negate the one used for panelists, which was an obvious ‘commissions paid out of membership fees’ model.
Additionally the franchisee plan was never made public. I’m not sure why that is.
And from our discussions, franchisees were just purchasing and selling memberships (in bulk), so the revenue was still being solely generated from membership fees.
Because transparency is a good thing. What if I don’t want to join Speak Asia as a panelist, but rather a franchisee. Without the information publicly available, I wouldn’t even know of this option.
If Speak Asia weren’t being shady about it, they’d be encouraging franchisees by making the information publicly available wouldn’t they?
Unless they were trying to protect the markets of existing franchisees which could be collusion and indicates they weren’t interested in sharing the ludicrous profit margins of their franchisees participating in the company’s pyramid scheme.
Yep. It was on Speak Asia’s website for a year. I even reviewed it back in March of this year.
We’ve been over this. This document is a lie and presents a plan that was never used by the company.
It is different to the compensation plan Speak Asia member’s used in their presentations to sign up new members and is different to the compensation plan presented on the Speak Asia website.
The company never used this 60+ page compensation plan, thus it is irrelevant.
Speak Asia did lie about their corporate survey clients. Get over it already.
The compensation plan I sited is clearly a pyramid scheme model that pays out commissions solely on membership fees. Nobody is paying Speak Asia 3.8 million USD for corporate surveys (the minimum the company would need to charge for a year straight if they were to have any corporate clients).
Whether Speak Asia lies and claims they had other compensation plans, be it 2 more, 100 or 3,000 different models to the one they actually used is irrelevant. At the end of the day the model I cited was being used, and thus Speak Asia is and always has been a pyramid scheme, irrespective of franchisee plans or non-existent product based models.
Yes, even if we entertain Speak Asia’s lies and accept that the model advertised on their website was part of a bigger compensation plan, it still means the company is a pyramid scheme because they were using it.
No that’s my own opinion, based on some of the ridiculous discussions I’ve had with Indians trying to claim a simple business model, which has been recognised by most of the world as an illegal pyramid scheme since the 1920’s, is somehow revolutionary, ‘ahead of its time’, and perhaps most worringly, legitimate.
No, because it doesn’t change the business model Speak Asia used. My headline will reflect the hilarious nature of India being one of the few countries in the world to fail to recognise pyramid schemes as illegal, thus becoming a laughing stock in the business world.
@anju
No it doesn’t. Did you even read the article?
I’m with Kasey on this one, looks like the EOW are gunning for a criminal prosecution and have handed over what they have to the CID.
Move along, nothing to see here.
@Chandra …
I repeatedly asked 2 questions and no one ever answered it precisely. All Speakasians do is to take one word out of the question.. and try to divert the topic to something else. So I re-post the questions
1) Which Company pays Rs 100 Crore for one survey?
Rs 500 x 20 Lakhs = 100 crore
2) When a company does 100+ crore business with Speakasia, still no one claimed that they did business with them? Infact everyone just denied till now?
Try answering this, instead of other topic diversion technique.
riffraff wait for the business model affidavit to become a pubic document.
you will find all your answers.
your above question is not a valid question ,you are completely offtrack.
Why? We already know what Speak Asia’s business model is and have so since March 2010.
Any business model that mentions products is a lie as the company never used any such model.
How is it offtrack?
One of the charges by the EOW against Speak Asia is that the company has no corporate clients, Speak Asia claim otherwise and claim they aren’t a pyramid scheme.
In order for them not to be, they need to prove they then earnt more from corporate survey clients than membership fees.
This equates to 3.8 million USD pur survey (2 a week) for 52 weeks straight May 2010 (the launch of Speak Asia) to May2011 (EOW shuts them down).
This figure is even more if 100% of Speak Asia’s surveys were not commissioned.
And we know they weren’t, because Kumar said so in his apology for lying (mentioned that sometimes the company does surveys that aren’t commisioned from memory).
As per riyfkm, which idiotic companies paid Speak Asia this ridiculous amount per commissioned survey?
@ Anju …
As I guessed… no one has the precise answers… even the so called GURU’s of Precision Marketing.. LOL
And they surveyed for 52 Weeks.. yet not even a single company claimed that they purchased surveys from SOAL.
@riffraff
did i say i don’t have the answer?
i said wait for it.right now you don’t deserve to know.you’re WAY down in the pecking order.
the company has explained the business model to the rbi, and are currently explaining it to the supreme court.
you will just have to wait for your turn.
@soapbox
economic offenses are definitely investigated as criminal offenses.
what does the cid understand about economic offences?these are just ways to bury a case, when you have not made much headway ,and don’t know where to hide the file.
you pass the file on from desk to desk ,till everybody forgets what the case was all about.
i really hope the eow decides to pass the speakasia file on.
so you’re going to be a poor loser.you are going to show a whole country as being WRONG so you can cling on to the notion of being RIGHT.being wrong some times ,is not a bad thing soapbox,it keeps our ego’s from getting ahead of ourselves.
don’t worry,nobody’s opinion of india will change if you laugh at it.
Nobody said they weren’t. Perhaps the EOW believe the CID are better equipped for the prosecution side of it.
Anyway, no point in discussing this further, seeing as it’s got nothing to do with Speak Asia.
These explanations are both lies. Speak Asia themselves admitted the explanation included products and Speak Asia’s business model never featured products.
No, I’m merely maintaining that a MLM business opportunity that pays out commissions from membership fees is a pyramid scheme.
This is accepted the world over and India as a country would be a laughing stock if a court ruled otherwise. Overnight you’d have the second most populous nation of the world becoming the global scam capital, not to mention the complete overnight redundancy of the Prize Chit and Money Circulation (Banning) Scheme Act.
These explanations are both lies.-soapbox
no, these explanations cover every aspect of the company from the day they entered india.
every step from surveys to consumer empowerment to future product based model is explained ,along with the binary commissions ,survey income etc.the revenue of the company is described in detail.
by the way soapbox,if the supreme court approves the saol model,why will the whole world not believe the wisdom and integrity of our govt, and why instead would they back up your claims.
the moment you say ‘i haven’t seen a single paper of the company and am relying totally on what i saw on their website’,people will walk away.
I’m getting rather sick of returning to this point anju and repeating myself. Unless your next comment is an explanation it will be placed in the spam bin.
Since launching in India in May 2010 till the EOW effectively shut them down in May 2011, Speak Asia’s business model
1. never involved products
2. provided the largest commissions to those who recruited the most members
3. could not have provided the company with revenue greater than the revenue generated by membership fees. This would amount to the ridiculous price of 3.8 million USD per survey at a minimum for 52 weeks straight.
Again, either reply to these points or your reply will be trashed for spam. You’re wasting everyone’s time going round and round and refusing to address these points directly.
Publicly lying about your business model is a crime. You cannot legally publicly represent what you do and then do otherwise, it’s fraud.
3 points, 3 answers anju – and don’t give us any more bullshit about how you’ve seen the model and can’t comment on it. If this is the case then don’t comment as you have no way of proving your claims and you’re just wasting everybody’s time arguing for the sake of arguing.
Here they are again, just in case you missed them;
I look forward to your addressing of these points.
Clearly, Anju’s going on faith here. We’re supposed to ‘trust’ her having information that will somehow prove SAOL is clear as day, white as snow, not a scam.
A plan that was never implemented and does not fit reality is a bogus plan. And I won’t bother repeating why already, as Oz had said it all.
Two weeks past the 17th of October is overdue by a week, has the matter been heard again?
I find it curious that the Income Tax Department has been dragged into it. Whose income are they investigating?
In a news article in times of India .They have published that EOW had finished there investigation and soon they will filed a chargesheet soon in November . Is it good for panelist???
Answer(1)- Yes its a great sign in their 90 days of investigation they EOW just able to find the banking transaction made by SPEAKASIA ,and there is no charges against SPEAKASIA which proves that SPEAKASIA clients were false .
And the all transaction made by SPEAKASIA was in a legal way. SPEAKASIA has followed every rule under which they have transferred the money .In EOW investigation EOW was also able to find the money which was distributed to the panelist .which is approx 1100 crore .
The main charges against speakasia was that speakasia had operated in ponzi scheme for this to be proved they do not have any proof .
Answer(2)- And other charge is chit fund act if SPEAKASIA has no clients then this charges can be put but speakasia have shown their clients list and the transaction made by clients to the SPEAKASIA has also bee given to EOW .Means this charge can not be proved in fact they do not have any evidence to put this on SPEAKASIA .
Answer(3)- Another charge is Money Circulation Scheme in case of Speakasia its not possible. They paid their panelist for filling survey, they never said any panelist that they will only get paid if they join new members so this charge can not be put .
Answer(4)- Another charge is violation FEMA and we all know that due to the strict rule of RBI it can’t be possible no money can be transferred to foreign without the permission.
We all know that Speakasia was doing this for last one year means RBI and Banks were aware of this . And the Master Franchisee have taken all the clearence from RBI to transfer money outside . So this act can not be put also from unconfirmed sources .
They claim that a news was shown in aajtak that RBI had find nothing illegal in their investigation so this act can’t be put at all.
Answer(5)- And other main and most important charge is 420, this charge can only be put if EOW able to prove that speakasia have cheated the Panelists but it is not possible.
This charge was put by a panelist in their FIR, he had mentioned that Speakasia had stopped the payment .But we all know why Speakasia had stopped the payment due to the RBI circular, Banks were not able to grant the permission for transaction . And RBI is ready to give clearance to repay the dues, so once if the accused get payment then there will not be any 420 charges .
Answer(6)- MCA also accused Speaksia for violation of company act but its not possible in case of Speakasia because Speakasia is an online business and for online there is no Law till which says that a company which runs an online business needs any registration. Company act is very old and it is yet to be revised means again there is no violation at all . .
Everyone of us very curious about the taxes about the Speakasia, it was paid in legal matter let me clear this .
Answer(1)- As we all know that Speakasia had paid their taxes in every transaction which was made in proper banking channels means there is no violation can be made.
And the other and most important ” did panelist paid there taxes when generated PINS ?” let me clear this as we all in the model of Speakasia we get rewarded by Reward Point means that we earn reward point not money means company can paid this to us .
If we sell that reward point it can be sell as free means no one in legal matter can prove this wrong .Let me clear this by an example it is all up to me or a panelist that reward point earn by panelist can be used to generate pins and it is a logical product just like a game it is very complicate d to clear but I am trying.
Means I can create an account there is no where mentioned that that PIN can only be sold through money .It can be given to our friends and family members . If they pay us for creating account its between the individuals, taxes are only paid on earning there is no any law which violated.
CONCLUSION:- In short there is nothing illegal in the matter of speakasia, its all the legal proceeding. I want to say that if EOW and RBI has any charges then Speakasia has stronger arguments against their charges means no one can stop Speakasia to win the battle .In my this article I had tried my best to clarify why should we trust on speakasia .
I’ll preface by repeating myself, again. Just because you pay panelists does not mean no fraud has been committed. The problem is the business model and where the revenue comes from. It is solely reliant on new recruits and any business that generates revenue from membership fees is not a legitimate business, it’s a ponzi scheme.
No charges will be filed till the criminal investigation is concluded. When it is concluded, charges will be filed in court.
The current absense of these charges just means the investigation isn’t finished, or that the EOW are waiting for the court hearing.
Apart from the business model. This model took membership money and paid out commissions with for recrutiing new members. Then there’s the issue of corporate surveys.
Which companies were paying Speak Asia 3.8 million USD per survey for 52 weeks straight?
No they haven’t. Where is it?
To date no company has been connected to Speak Asia via corporate surveys.
The survey payments do not clear Speak Asia of being a ponzi scheme. Everybody knows the survey payments were monkey change compared to the recruitment commissions paid out in the business model.
Furthermore, where do you think the survey commissions were coming from? In the absense of corporate survey clients (nobody is paying Speak Asia 3.8 million USD for a survey), it was from membership fees.
All in all, an obvious money game.
As for cheating panelists and fema, I’m not too fussed. My main focus is on the above points which cannot be defended and have not been to date.
All we have so far is management in hiding and a company hiding behind non-disclosure agreements and thus far appearing unchallenged in court and lying. All the hallmarks of a scam.
Apart from all the points above.
Anju is incapable of addressing these points, so lets see if you can. Here, let’s roleplay.
I’ll be the RBI and CID and this is what I’ll say in court;
What’s Speak Asia’s reply?
@ Oz
Ans: Yes, let it be.. Let’s wait for the final verdict or judgement.. Whatever you are telling won’t be the final verdict or judgement since you are not the judge..!
Ans: Business Model: Input 10k and Output 52k, you are telling with the help of more number of inputs they were paying the output. That is your saying.. let it be.. the truth depends on the corporate surveys now, lets higher courts in India involve in this matter to prove your allegation along with EOW or CID if they are applicable..
Proof is needed my dear friend, don’t put your own calculation and tell this as you have proved it, a common person has to come i.e. court has to come in-front for giving the final verdict and prove this allegation given by you & few others outside.. Until then whatever you shout won’t have a meaning..
Ans: How do you know that? Who told you? Which Court?
Ans: Have you approached SpeakAsia for knowing that by accepting to put signature in NDA (Non-Disclosure Agreement)? Without doing that how can you tell that they are not having, what you are trying to do here in this forum? I’m doubtful about you..!
Prove this correctly, If you tell again they are not having clients without doing this what i’ve mentioned, then i’ll tell that you are getting enough money to write against these people and through which you are continuing this work..
Ans: How do you know that? EOW or CID told you secretly or have you started SpeakAsia to know that secret information about clients? You Stop fooling people instead of telling SpeakAsia is trying to fool people in future Or SpeakAsia tried to fool people Or SpeakAsia has defrauded public.
Again asking how you are telling they are not having real clients? SpeakAsia is telling they do have, what EOW is telling? what CID is telling? Even if EOW & CID tells they won’t have clients, what court is telling?
Only if Supreme Court is telling SpeakAsia is not having real clients and it is proved then only everybody will believe it. Because you are not the Judge, even EOW & CID also not real judges; they have to prove it finally once for all in-front of the court in India.
Before these things happens and verdict come out – don’t shout like SpeakAsia not having clients and everything is fake, no one will believe you.. If you keep on shouting a lie again & again it won’t become truth.. Are you a politician, In our country politicians usually tells / thinks that if they keep on telling a lie again and again it’ll become truth one day in-front of public, it means.. we can make people to believe a false information if we keep on telling it again and again..
Even if any one tell a lie louder it’ll make the listener to think that it might be true..!
Ans: Who tells that? You? who are you? Are you a Court or Are you a Judge? Your hypothetical views & opinions are still opinions & hypothesis, it has to be proved in the court by the EOW & RBI, Judges will give the verdict, you are not the Judge, Mind it..!
Ans: Since you don’t know where these survey commissions were coming from – you are telling there is no corporate survey clients for Speak Asia and how do you tell no one is paying Speak Asia for the survey what they are giving? you are telling it is only from membership fees, nothing else; again let them (EOW / CID) proves that in court and then everyone will accept.
Ans: It’s not money game, it is a business model.
Ans: who cheated panelists? who stops giving payments to all the panelists? what RBI told about FEMA to SpeakAsia, it hasn’t mentioned that they have crossed the FEMA, they said SpeakAsia has to keep a track on FEMA regulations. what defense you want for these points you have mentioned?
Ans: Those things whatever company is hiding is true but kindly keep in your mind – company will not hide that to a person who comes forward and put signature in Non-Disclosure Agreement, you are not the person to do that, lets EOW decides that, RBI decides that and above all higher court of this land – Supreme Court decides that.
Ans: What points? those were the points written by you (not the truth which is proven in the court), I’ll tell you one thing.. tomorrow even if it is proven in the court that speakasia has clients and the business except few mistakes everything else is legal – you won’t accept – you will tell indian court is wrong..!
You are not in India? You don’t study the case what is happening in India and you haven’t get into the field to know the exact case, only by hearing the news and only by acquiring little knowledge and also by the money coming from NGO’s & some different Corporates you are writing all these things..
Ans: You are not RBI & CID, don’t talk about role-play, Are you making a movie here or what?
Ans:
1. yes speakasia’s business model never involved products from May 2010 to till date since they were in primary phase of their business and they were collecting their required datas from panelists and they were in panel exchange business by paying reward points which can be converted to INR by sending to the respective panelists’ bank accounts,
yes – of course it is too much of money which is one of the powerful marketing technique adopted by the company in order to bring more and more number of panelists into their business and later on they can be converted to customers who can purchase products as well as they can be used to acquire all services provided by the company.
2. yes, speakasia has the business strategy to pay more to the person who recruits most members, what is wrong in that and many company does that for recruiting new members, insurance agent will get more renumeration for collecting more insurances and also more work will pay him more rewards, what is wrong in that?
it is also one of the business strategy in their business model and there’s no wrong in that. In order to increase their panel base or population of their panelists / customers through whom they are going to do a lot of business by selling their own company products as well as products from many top class brands and they can provide more services in future to their customers.
3. ‘could not have provided’.. again don’t judge yourself it has to be told by judges in the court. Not ‘you’!
SpeakAsia has different phases of business, their plan is huge and they want to do a long time business in India and also in many countries in this globe. They want to stay permanently here.
They are having several phases in this business model and Products come into the picture only in the second Phase and if you don’t want to believe that, you don’t believe it, those people who believes it – will do the business, or else you wait for court’s verdict as we all are doing.. we’ll respect the court’s verdict.. but we don’t know about you..
if you are not accepting the court verdict or you tell that court will announce like this as ‘speakasia is fraud and they did fraud business all these days’, then wait for that verdict, you pray for that verdict, pray for those things whatever you are telling comes true in the form of final verdict or judgement from the court.
We’ll pray in company’s side as they will win the case and they will start paying to the panelists and also re-start their business very soon..! That’s it! Let’s wait & see, again don’t tell i’m right, you are wrong, we will win, court will say like this, will not say like this, if court says something as speakasia is legal or allows speakasia to function don’t tell court is wrong..! hope you are good in reading between the lines..!
I know you use to write answers for everything whatever we write here, whatever we defend here, because it is your work for which you are paid to do it in this forum! But, mind it we are not paid by anyone to write this, so we more number of people who believes the company will not waste their time like me..
All the Best! Grow Up! But I don’t want to waste my time again & again to give you answers for each & every useless nonsense allegations against the company whatever you arise / writes here.
By the way: what is meaning of your name Oz, is it australian soapbox? which place are you from?
@ Himesh Roy,
Who are you man?
Excellent!!!
You might have taken so much of time to write this, I think you had so much of patience, which I’m lacking to sit & write for these useless people, you have rightly said, but these people will not accept anything, they are writing paid posts or articles here.
But, Speak Asia has taken a trial in distributing the products to its panelists, for those people who recruits more number of panelists, they successfully distributed that to many of them all over India, next – they were on the process of giving the mobile handsets & television sets also, but it was stopped by EOW..
@ Himesh Roy,
WHAT A RESPONCE TO THESE OZ! Excellent!!!
I THINK HE WILL TAKE A VRY LONG TIME TO PREPARE HIS STORIES AFTER READING U – AAL MOUTH SHUT!
GREAAAAAAAAAAAAAAAAT.
Mr. Oz, the web site of Speak Asia on line pte. ltd. which was under the custody of your intelligent EOW is now working and lastly your intelligent EOW handed over the site to the management of Speak Asia on line pte.ltd.
Now, Mr. Oz , what will you say regarding all this conspiracy in favour of your intelligent EOW? Oz you are an idiot and paid person who had been appointed for spreading rumours against Speak Asia.
Now, your time has been finished, go home and take some mental medicine and if it is possible purchase at least on ID of Speak Asia which may be the boon for you. hahahahahahahahaha.
Oz Please Do Something fast Speak Asian’s started Enjoying.
@Himesh… What you’ve said in 100’s of lines.. could be narrowed down to one point “Let the court verdict come out” …
Well everybody knows that. But let me tell you, its the Speakasians who keep posting wrong info. If I remember in May itself they stated that RBI and EOW has given them clean chit.. now wheres that chit?
When you say let the judgement be out, then why are you soo worried? All we asked is 3 question, but you guys love to answer a one liner by way of a million liners….
Posting very long comments isn’t actually ‘communication skills’? It may feel like it, but …
Many of the questions are asking for “proof”, “statements from a judge” or “verdict from a court”. Himesh Roy have already answered many of the questions in his first answer.
I’m sure they both can agree on that. They both have to wait until the final verdict, or until proofs have been presented in court.
Usually we don’t find “proofs” or “evidence” in blogs or forums, and most people know that. Then why ask for proofs or evidence if you know they belong in court, and if you already have stated it yourself?
I didn’t bother to read all the questions, but as far as I can see they’re pretty easy to answer.
I’ll guess it’s not necessary to repeat the same answer for each and every question?
As I have said earlier that the intelligent EOW is not doing any thing in the case of Speak Asia, they are trying to make a story how to save their faces.
They want to make a story in which they try to make themselves safe because there is nothing to prove and they started a baseless battle against Speak Asia. Now, they are doing nothing, they are sitting idle in their office and making / writing a story that will be a safeguard for them.
They have completely surrendered in front of Speak Asia management team. They have proved that they are completely completely and completely a department of big frauds and idiots. It will be a black spot in the history of India and also in the history of the department of EOW of India.
@ riyfkm
it is ordinary panelists (speakasians) who posted wrong information,
Do you think – Is that SpeakAsia wrong, if Speakasians (orinday panelists who don’t know anything about internal affairs of the company) gives wrong information? No, way – they can give, they can write whatever they want to write, what you are going to do for that? you can’t do anything..!
Are you asking all questions in one line? No, if we answer the question in one line, you will ask the same question again in many lines, that is the route of soapbox.. in that same way i’ve given my reply.. nothing wrong in that..! its soapbox’s style..
@ M_Norway
it’s not the matter of easy questions to answer, if you are asking same type of question again & again, same answer has to be given again & again in different ways, it’s not my mistake it is soapbox’s misatke, i hope by this time Oz will be preparing big story as reply for my comment, its ok – let him do it,
People will tell.. Control of website from EOW will come back to speakasia and speakasia will get their rights back to pay to their panelists through EXIT Option and then company will re-start its business activity very soon and also start giving payouts after announcing the new business model, do you believe it?
don’t believe it, just wait & watch.. keep on watching.. till speakasia gets back its rights.. they’ll say like that.. i don’t know anything, i don’t want to give my comments regarding that also, it’ll happen or not?
what we can do is just wait & watch by shutting up our mouth & by keeping silent..
@Himesh Roy:
Why do you need answers at all, when you already have stated an answer yourself? I believe most of us will agree in that answer.
Why do you bother to write 100’s of lines when you already know the answer? And why do you expect people will bother to answer them more than one time? I have already spent the time needed.
It’s easier if you call someone.
I’ll preface by stating that the website functionality most likely means that the EOW have concluded their investigation and have no more use of the server.
That said, there’s been no official announcement from Speak Asia, so I would doubt they have any control over the website until they announce so.
I note that speakasiaonline.com is currently being hosted on the IP address 113.197.34.110, which is located in Singapore. Perhaps the domain name has merely been pointed at a different server.
This matches up with the domain settings being fiddled with on the 6th of November (US time, yesterday).
I don’t see why the EOW would move the server to Singapore, so it could be that Speak Asia upon been granted control of their domain (which I don’t think they ever lost, seeing as it was registered with GoDaddy) has decided to start hosting in Singapore. The delay since the 6th also reflects the DNS changeover.
Once again, Speak Asia is hiding overseas.
If they were clear to operate in India, wouldn’t they just have restarted operations with their Indian based hosting company? Think about it.
@Himesh
Honestly, what are you talking about? 10k, 52k… can you even read?
Speak Asia need to have charged a minimum of 3.8 million USD for a year straight to make more from corporate surveys then they did from memberships. Who paid them that?
I don’t need a court to tell me no company on Earth paid Speak Asia 3.8 million USD a survey for a year straight.
Speak Asia have lied about their business model and have lied about their corporate clients in the past. The fact that there’s an NDA on this supposed client list strongly indicates it’s ficticious.
Oh you can look at our clients, but don’t publicly mention any names we quote… total scam.
Easy. Answer me this, which companies have been connected to Speak Asia via corporate surveys?
Because nobody paid Speak Asia 3.8 million dollars for a year straight. Jesus Christ, comprehension problems much?
You don’t need to be a judge to look at Speak Asia’s simplistic business model of ‘take membership fees –> pay commissions’ and realise it’s a pyramid scheme. These scams have been around since the 1920’s, do catch up.
Using memebrship fees to pay commissions is both a business model and a money game. Thankfully it’s illegal in most of the civilised world.
Yes I do, membership fees. To date, no additional revenue has been mentioned apart from Speak Asia’s membership fees. They didn’t have another source of income.
So they are a scam, thankyou. Furthermore they lied about their business model seeing as the one presented to the Supreme Court and RBI (by Speak Asia’s own admission) mentioned products.
Thankyou, so you accept they are a scam.
In the absense of proof any company(ies) paid Speak Asia 3.8 million USD a year straight and mention of any dollar figure representing revenue generated from corporate survey sales and the EOW stating on the public record there were no clients, the point stands – There was no survey revenue.
Nobody cares and neither does this in any way negate the company running a pyramid scheme from May 2010 to May 2011.
Actually it’s because of my disbelief at the amount of apparent idiots in India who somehow think they’d revolutionised the business world with a blatant pyramid scheme.
The rest of the world has known about pyramid schemes since the 1920’s, time for India to catch up.
That’s how I feel, seeing as all you really said was ‘LOL DID YOU HEAR IT FROM THE COURT?!’
Evidently India is also full of morons unable to form an opinion themselves based on the evidence before them.
No survey sales, paying massive commissions for recruitment, no mention of revenues generated from survey sales, the ridiculous notion that companies were paying Speak Asia 3.8 million USD for a year straight for suveys in which the respondents can reply up to 10 times?
Scam.
@Michael
No they didn’t. Speak Asia aren’t a registered business in India, so how can they import anything?
Furthermore their first shipment was stopped by customs (after an attempted delivery to a pizza parlour no less) and as far as I know is still sitting there.
@Chendra
So I’m curious, what’s it like living in a delusional fantasy world?
Seriously…
@ soapbox
it is your website, you can write whatever you want, you can scribble whatever you want, no one will interfere, you can stand top by answering all questions with same type of answers again and again, and you can tell and keep on telling again & again speakasia is a scam, having no clients, everything they are paying through recruiting new members, it is a ponzi scheme, it is for you, not for us..
You are telling “Evidently India is also full of morons unable to form an opinion themselves based on the evidence before them”
you are telling all Indians as ‘mentally retarded’, we Indians won’t accept that.. Being a foreigner you are not at all eligible to comment on the business happening in India that too sitting in one corner of the world and commenting about the business happening in India?
Kindly wait for the court’s final verdict or judgement – all your creative writings will be proven wrong..!
Not interested to comment on your questions, only fool will do it again & again, now only realizing that..Thank you very much, Expect the unexpected! Good Bye!
@Himesh
Yawn, another dismissal because you can’t explain away these simple facts;
1. Speak Asia’s business model never involved products. The company took in membership fees and paid commissions out using nothing but these fees.
2. Speak Asia paid large commissions on membership fees.
3. No company paid Speak Asia 3.8 million USD for 52 weeks straight and no mention has been made of any revenue via corporate survey sales to date.
I said no such thing. Those who argue that Speak Asia’s simplistic business model is anything but a blatant pyramid scheme on the other hand in light of the three simple points above…
You don’t need to be an Indian to understand a business model. This is just the usual ‘waaaah you don’t get it’ combined with racism.
Wow racism too, Speak Asia supporters plunge to new depths….
How?! Prove the above three facts wrong, try it!
Well you should be, what else are the EOW going to get up and say in court? From their public comments it’s obvious the above three points are the angles they are approaching. Anybody investigating the company would do the same as they are simply indefensible and clearly indicative of a recruitment driven scam.
Actually thus far it’s pretty expected.
This is how it works, Speak Asia members come here, write long essays raising points that have already been debated ad nauseum, hit the brick wall of being unable to address the above three points, make up stories about how everyone against the company is being paid by ‘their masters’, have a cry, tell everybody to wait for the court (because y’know, the above three points aren’t going to be raised in court lol) and then leave in a huff.
It’s quite tiresome…and repetitive.
Already I’ve answered for those three questions what you are asking.. Haven’t you seen that?
Thanks & Good Bye!
‘You are not the EOW’ and ‘Wait till the court date’ is not an answer.
It’s a diversion because you cannot answer. The same crap Speak Asia members have been pulling on here for months.
copying & pasting again from my previous comment posted – hope you will find the answer for your questions..
1. yes speakasia’s business model never involved products from May 2010 to till date since they were in primary phase of their business and they were collecting their required datas from panelists and they were in panel exchange business by paying reward points which can be converted to INR by sending to the respective panelists’ bank accounts,
yes – of course it is too much of money which is one of the powerful marketing technique adopted by the company in order to bring more and more number of panelists into their business and later on they can be converted to customers who can purchase products as well as they can be used to acquire all services provided by the company.
2. yes, speakasia has the business strategy to pay more to the person who recruits most members, what is wrong in that and many company does that for recruiting new members, insurance agent will get more renumeration for collecting more insurances and also more work will pay him more rewards, what is wrong in that?
it is also one of the business strategy in their business model and there’s no wrong in that. In order to increase their panel base or population of their panelists / customers through whom they are going to do a lot of business by selling their own company products as well as products from many top class brands and they can provide more services in future to their customers.
3. ‘could not have provided’.. again don’t judge yourself it has to be told by judges in the court. Not ‘you’!
SpeakAsia has different phases of business, their plan is huge and they want to do a long time business in India and also in many countries in this globe. They want to stay permanently here.
They are having several phases in this business model and Products come into the picture only in the second Phase and if you don’t want to believe that, you don’t believe it, those people who believes it – will do the business, or else you wait for court’s verdict as we all are doing.. we’ll respect the court’s verdict.. but we don’t know about you..
my request: don’t waste your time by asking questions – you can’t understand whatever we tell, you are paid to write like this and ask like this, whereas we are not, that’s why no one is serious to answer your queries. You don’t misunderstand you are asking intelligent questions which has no answers..
i don’t want to waste my time again & again with a crap like you.. a useless crap.. go to hell..! Bye!
So Speak Asia lied about their business model to the Supreme Court and RBI as they explained a business model they never used.
So Speak Asia is clearly a pyramid scheme.
I don’t care about judges, either provide the names of companies who paid Speak Asia 3.8 million USD a survey for 52 weeks or accept that there are no corproate clients.
Thank you, come again.
@ soapbox
Are you idiot?
Read full answers, full explanations, don’t cut my answers and put here as questions and telling me back as ‘i have accepted speakasia as pyramid scheme or scam..’ i have explained you that this business model has different phases, i have explained you ‘what is the wrong to give rewards to the person who recruits more panelists?’, if it’s done like that it will not be a pyramid scheme or a scam,
Your final Comment: I don’t care about judges, either provide the names of companies who paid Speak Asia
My Reply:
I WILL TELL YOU ONE THING SOAPBOX..
IF YOU KEEP ON TELLING A GOOD PERSON AS THIEF – HE WON’T BECOME A THIEF, YOU HAVE TO PROVE IN THE COURT, THAT IS THE LAW IF YOU LIVE IN A COUNTRY & THAT IS THE LAW IF YOU LIVE IN THIS GLOBE. YOU CAN’T DECIDE YOURSELF, MOREOVER IT IS YOUR WISH TO NEGLECT THE PERSON IF YOU DON’T LIKE HIM SIMPLY BY TELLING SOME REASONS, YOU NEED TO RESPECT THE LAW, YOU NEED TO RESPECT THE JUDGEMENT GIVEN BY JUDGES, DON’T TELL ‘YOU DON’T CARE ABOUT JUDGES’, AGAIN & AGAIN DON’T ASK ME TO PROVIDE THE NAMES OF COMPANIES WHO PAID SPEAKASIA, I’VE TOLD YOU CLEARLY BEFORE COME & SIGN NDA (NON-DISCLOSURE AGREEMENT) AND GET THE DETAILS, IF YOU ARE WILLING FOR THAT, DON’T ASK ME ANYTHING..
Don’t talk stupid here, simply you are writing Bla Bla here, no use of writing that..
You are expecting SpeakAsia to follow your rule and you are asking SpeakAsia to come to your circle of business, you are thinking that SpeakAsia has to run its business as you think, it might happen only in your dreams..!
Keep Dreaming as company is fraud, they did scam and they have caught, EOW has won the war and you have achieved something big & satisfy yourself.. These things will happen only in your dream.. not in reality..
I have come again to tell you this.. but I don’t come again to explain to a fool like you..!
Speak Asia is not being criminally investigated on their alleged future plans, and their made up phases are irrelevant.
What Speak Asia claim they intend to do does not negate what they have done during the period May 2010 to May 2011 – which is effectively run one of the largest pyramid schemes in India’s history.
Answer the questions based on what Speak Asia have done, not what they’ve told you they are going to do. You cannot claim to have used a business model you never did, it’s straight up fraud.
As for what is wrong with paying out the largest commissions to recruiters, (and I can’t believe I have to explain this) it’s that it’s not a legal business model, it’s the very definition of a money game. Take in membership money and pay members the largest commissions based on how many new members they bring in.
Honestly, you can’t see the flaw with this business model and why it’s illegal the world over?!
The rest of your rant was yet another attempt at a diversion from the simple points I’ve put to you, here they are again for your reference;
Again, don’t bother mentioned future phases or plans as they are irrelevant given they were never implemented and have no bearing on Speak Asia’s actual business operations between May 2010-May 2011.
You can’t commit crime and then pretend it doesn’t matter because of what you claim you were going to do. It’s nonsense.
Mr. Oz it seems that you are a real fraud and big bastard. You are saying that India is full of morons and all Indians are mentally retarded. What about EOW? Are they foreigners like you? It means, EOW is also mentally retired. They are also Indians, aren’t they?
Mr. Oz you are spoiling your own website through your bad and dirty soap foam.
Go to hell with your baseless speeches bastard Oz. I would like to suggest all the Speak Asians, please don’t come on this web site and never try to convince an idiot and bastard person like Oz.
@Chandra
Wow, more racism from Speak Asia’s members.
Yes of course ‘foreigners’ don’t understand that a pyramid scheme is all of a sudden a viable legal business model.
Why?
Because it isn’t.
wow!what happened to my comment?is soapbox indulging in some convenient editing like the indian press?
Anju you were warned about your derailments. Address the above points or face the spam bin.
This has not changed.
in a pyramid scheme ,the ONLY way you can earn money is by recruiting more people.
in saol however you can earn money by doing surveys too.
product sales are in the future ,so we won’t talk about it.
the chief grouse of soapbox is that these surveys are fake and got no income to the company.alright,we can accept that too.
but WHO said saol has no other source of income?it absolutely does.
the business model affidavit has been admitted to the supreme court.the matter is subjudice.does soapbox think we are STUPID to discuss this document with him?
in fact himesh roy ,if you have had access to this affidavit, do not out it on this site.i have already been scolded by our lawyers.when the company decides to make this document public then soapbox can know too.
he can continue his bullying and threats, but the truth is he really does NOT deserve to know at this point.
False. Whilst it can be it doesn’t have to be the only way. A business opportunity is clearly a pyramid scheme if the primary method of income generation is via the recruitment of others.
As it is in Speak Asia, where primary commissions are the largest.
Good, because it’s irrelevant to the past year of business of Speak Asia (May 2011 – May 2012).
So the only revenue Speak Asia was generating was via memberships… which again means it’s a scam.
Speak Asia has admitted themselves that this submitted business model mentioned products, therefore it’s a lie and irrelevant.
The business model Speak Asia used from May 2010-May 2011 had one and only one revenue stream, membership fees.
That’s all there is to it.
keep your stupid site to yourself.
GOODBYE!
And that’d be Anju pretty much summing up what Speak Asia’s response in court will be.when the EOW and CID nail them on the same points.
…I wonder how that’ll work out for them.
Today, November 8, 2011, Speak Asia site became operational again. We could log in and see our shopping/binary/survey panel incomes. Does it mean that EoW, Mumbai has released their website?
However, I wonder who is going to be running it as all their “smart” managerial team from Mumbai is either in police/CID custody or on the run. Where is the money of Rs2500 crore in accumulated RPs to pay?
Where is the money to pay custom duty and demurrage to release Yug products from the port? I too am all ears to hear what happens on November 14 in the Supreme Court. I hope EoW/CID/RBI/MCA have got a good case to kick the arses of Jonathan James & Co. of United Speak Asia, and Ashok Bahirwani & Co. of AISPA along with so called leaders of this ponzi scheme sitting on top of the pyramid in earning binary income who want the company to become operational again.
Anyhow we will all know whether Indian law and law enforcement people are effective or not. I have 22k sunk in this company via two IDs and another 40k in accumulated unpaid RP (earlier called $).
@ soapbox,
Q. Speak Asia is not being criminally investigated on their alleged future plans, and their made up phases are irrelevant.
Q. Again, don’t bother mentioned future phases or plans as they are irrelevant given they were never implemented and have no bearing on Speak Asia’s actual business operations between May 2010-May 2011.
Q. You can’t commit crime and then pretend it doesn’t matter because of what you claim you were going to do. It’s nonsense.
Q. What Speak Asia claim they intend to do does not negate what they have done during the period May 2010 to May 2011 – which is effectively run one of the largest pyramid schemes in India’s history.
Q. Answer the questions based on what Speak Asia have done, not what they’ve told you they are going to do. You cannot claim to have used a business model you never did, it’s straight up fraud.
Q. As for what is wrong with paying out the largest commissions to recruiters, (and I can’t believe I have to explain this) it’s that it’s not a legal business model, it’s the very definition of a money game. Take in membership money and pay members the largest commissions based on how many new members they bring in.
Q. Honestly, you can’t see the flaw with this business model and why it’s illegal the world over?!
Q. The rest of your rant was yet another attempt at a diversion from the simple points I’ve put to you, here they are again for your reference;
@ jutamaro… EOW just had their servers which were based in India. The website was always with them, since its registered outside India.
And now starting of the website, doesn’t mean starting of payment. This is all strategy to calm down few angry panelists, before the big day…
@jutamaro:
Grab a screenshot of your incomes, ‘just in case …’?
Or, if possible, download a copy of your account and save it on your own computer?
One of the problems with online business is that people don’t have the documents needed to support a claim (if the company don’t pay them, if the company goes into bankruptcy).
I saw this happen when an online poker site went into bankruptcy. Most of the players had a lot of money stored in their useraccounts (‘backoffices’), registered under a nickname. All of this documentation was ‘lost’ when the website went offline.
Screenshots may not be the ‘correct documentation’, but they may be accepted as ‘valid documentation’ by a liquidator. The most experienced of the poker players had downloaded copies of their accounts saved on their own computers, ‘just in case something’s happen’.
@jutamaro
Given that the company has made no official announcement in the last 48 hours and the website still has the same 3 popups it did back in May, I’d say Speak Asia still have no control over the website.
Although admittedly I am rather confused as to what the EOW seized, seing as the domain is hosted in the US via GoDaddy and Speak Asia are using Usonyx hosting in Singapore.
@Himesh
First of all, your terrorist story is stupid. ‘Accidentally kills a man’ and ‘immediately he killed the terrorist’?
Yeah good one. If this did happen, this man would still be up for manslaughter. As a civilian, you can’t just kill someone because of what you think they’re going to do?
And how does that happen anyway? If the man was going to blow himself up, he’d do so at the first sign of trouble, so how does an unarmed civilian stop him?
And how in any way shape or form is your stupid terrorist story relevant to Speak Asia’s case? Committing fraud and running a ponzi scheme is not justified because you announce plans to go legit a year later.
You still committed fraud and ran a ponzi scheme and you’re still criminally responsible. In this sense the point still stands, any future plans of Speak Asia are irrelevant in the criminal investigation of the company’s first year of operations.
Otherwise every idiot running a ponzi scheme would just make up bullshit claims about how they planned to go legit after they were caught and get away with it.
The words ‘mentally retarded’ appear in a grand total of four comments on BehindMLM, only one of these is written by me and I’m simply quoting someone else using the term. I’ve never said Indians, or anyone else was ‘mentally retarded’.
If it’s via a ponzi scheme, you bet it is. Much in the same way that if I rounded up some unemployed people to go and murder someone I couldn’t defend my actions based on the fact that I was employing people and as a result the murder couldn’t possibly be a crime.
A ponzi scheme is a ponzi scheme and fraud is fraud, no matter if you’re employing people or not.
No it isn’t, because they haven’t done anything else!
You say ‘what they are doing’, but to date Speak Asia has only ever used a business model that revolved around taking membership fees and paying out commissions to people who recruit new members. They never initiated any other business model.
Legally what you might have done is irrelevant, moreso when we’re talking mass scale fraud and running a ponzi scheme.
No they don’t. Tell me, Who is paying Speak Asia 3.8 million USD a week for 52 weeks straight?!
This is the amount that needed to have been charged each and every week for 2 surveys a week just to match the revenue generated by membership fees.
Who was paying Speak Asia this ridiculous amount to purchase surveys?!
Again, the very definition of a money game. This is not a legitimate business model the world over, it’s called a ponzi scheme. You’re not selling anything, except membership to an opportunity, which then pays out based on how many people you bring to the opportunity.
Nothing was implemented. From the time Speak Asia started in May 2010 to May 2011 when they effectively shut down, there were no changes to the business model regarding compensation to panelists.
They can make all the announcements they want, but unless they actually did something, the ponzi-scheme business model they used remained the same. Which it did.
Because a scam is a scam, whoever is involved. When you run a business that relies on new recruits to generate commissions, sooner or later you run out of recruits and those at the bottom lose money.
This is precisely why the world over a recruitment driven business model is recognised as a scam and illegal.
No, only in the minds of Speak Asia’s members, who have been shovel fed such copious amounts of horseshit from the company for months on end that they’ve been convinced into believing that a pyramid scheme is all of a sudden a viable and legal business model.
…I pity you, I really do. What more can be said.
@ saopbox,
It is useless to answer for your queries, i can easily do it again, but again it is useless to discuss or give our explanation to a fool or an idiot like you.., it is full of shit what you have written, stupid and useless crap,
wait till 14th Nov.,
Well you could, but it’d be pointless because there simply is no justification for running a ponzi scheme, nor any way to make it legal. Simple fact of the matter is when it comes to fraud and running money games, what you were going to do is irrelevant.
The EOW and CID’s criminal investigations are only focusing on what Speak Asia have actually done, and that my friends is to run a blatant ponzi scheme between May 2010 and May 2011.
That’s why you’ve spit the dummy and resorted to silly insults.
And what do you think is going to happen on the 14th of November in the Supreme Court?
The EOW/CID and RBI will get up and make the same points I have, at which point Speak Asia will reply with something along the lines of
Can’t wait!
This is supposed to be a discussion forum with give and take of explanations. However, it seems that most of the posts here are by mental retards.
No wonder Speak Asia had a mint mine going on in India and wants these retards to help them continue. Please do not argue with idiots Oz
Today (9 November 2011) Tarak Vajpayee and 5 others get anticipetry bail from Mumbai high court.
Every thing is going step by step in the favour of Speak Asia (as I had told earlier – Wait and Watch and we will have to have patience for the victory of Speak Asia) but some bastards are here indulge in counting that how and why this company provide 3.8 million USD a survey for 52 week.
The biggest bastard Oz is very busy in counting 3.8 million USD a survey for 52 week. He is busy to prove Speak Asia a ponzi scheme/game, pyramid type chit-fund game.
My dear grandson Oz god bless you and your family.I suppose, you live long. Cary on, go ahead in your counting but remember one thing — You and your group of bastards can’t count the Mathematics of Speak Asia.
Source?
And anticipatory bail is a bit useless this late in the game isn’t it? 5 days till the court case it’s not like they’re going to arrest anyone now. Might as well just let the Supreme Court deal with it in the hearing.
I suppose it does mean Bajpai can come out of hiding though.
Well what exactly do you think is going to happen in court? I can tell you now nobody’s going to be sitting around discussing the merits of anticipatory bail.
The CID and EOW have been investigating the fraudulent nature of Speak Asia’s business model and points like ‘who was paying Speak Asia 3.8 million USD per survey for 52 weeks straight?’ is what is going to be brought up.
Honestly Chandra, do you seriously not understand the significance of that figure or its relevance? It’s the minimum Speak Asia had to have collected from corporate survey clients for a year straight to break even with it’s membership revenue.
Do you think it’s likely Speak Asia can show any company paid them 3.8 million USD for a survey? Let alone over the course of a year?
Guess this sums up anju’s argument: ain’t got any.
Apparently, YOU are.
What you wrote is self-conflicting and therefore, bogus.
It *is* a pyramid scheme BECAUSE THERE IS NO OTHER SIGNIFICANT SOURCE OF REVENUE, i.e. nothing is sold EXCEPT membership. Thus far, SAOL has yet to document a SINGLE paying corporate client. Thus, it cannot prove it has any income other than membership fees. Thus, it IS a pyramid scheme, despite your claim to the contrary.
What they INTEND is completely different from how the ACTED.
Nope, YOU are expecting the law, which prohibits frauds like pyramid schemes, to somehow give an exception to SpeakAsia, by citing PLAN THAT WERE NEVER IMPLEMENTED. Law doesn’t work that way. Law deals with what has happened.
Proof? Or did you just pulled it out of your arse?
So you can’t answer that either. You simply repeat the question as if it’s an answer. Did you learn that from Anju?
The delusion of SpeakAsia adherents is they somehow believe some YET-TO-EXIST future actions will somehow “make up” for SpeakAsia’s pyramid scheme operation (which they claim is merely “phase 1” or whatever term they prefer).
This is yet another retreat from previous position where they claim the whole thing never WAS a pyramid scheme.
guys …please stop fighting ….der’s no need to think of whts gonna happen next as the fate of d co. is gonna be written by sc & the authorities …..if anyone is not a part of the co.,then there’s no need to discuss the matter so -vely in these forums,let the supporters support their co. who are been waiting from such a long time !!
whatever the truth is …will definitely come in front of us and as we are not any officials of the co. or the authority or even of the court itself …we shouldn’t believe on any news coming from sites other than authorities or the co. or the court !!
What is this, communist China? A pyramid scheme involving 1.8 accounts and 1.2 million people that is involved in a criminal investigation is not up for discussion?
…yeah good luck with that. Information is power and the more discussion and open transparency on this case the better.
Anyone would think Speak Asia are some sort of new hybrid scam that nobody has ever seen before.
Please, this crap has been going on in the west since the 1920’s. You don’t need to be the Supreme Court to understand the business model of taking in membership fees and paying commissions with it – nor to pass judgement on it.
Is your self worth always this low or just when it comes to discussing companies accused of criminal activity?
first of all …the people who pretend that the co.’s business module is a kinda pyramid scheme or money circulation ….whatever ,i think such people shld first need to know what is it and what is it about ,how it works etc. ,
after knowing all this only one shld discuss matters ,directly you cannot name any thing as a scam like if say ozoapbox is an asshole ,it doesn’t means he/she really is.
So my humble request to all those f***** one’s is to plz gather the correct info. and then enter the forums
thnk u 🙂
It is what it is, nobody’s pretending here.
Yawn, the old ‘you just don’t understand it’ argument is tired. Speak Asia’s business model is not some secret or complex entity, it’s a straight up ‘membership money comes in and commissions get paid out’ scam.
I suggest you read up on the model as you clearly have no basic understanding of it. Perhaps then you can ‘enter the forums’…
@baiju
Please source your comments if you’re just going to copypasta from elsewhere and provide no opinion of your own. As for BizBaskets comments;
As has already been mentioned numerous times, nobody cares about the proceedings started by panelists. They are civil and you can set up all the committees in the world you want to mediate between Speak Asia and its panelists.
At the end of the day you need the banks to play ball and the EOW, CID, RBI, MCA and TD know full well no bank in India will touch Speak Asia until the criminal proceedings against the company are concluded.
Thus their appearance at any civil proceedings started by panelists or AISPA is a complete waste of time, nor is it required.
Ashok Bahirwani from AISPA even clarifiies this in his latest November 15th update;
What’s the probability of reaching an amicable settlement until the criminal proceedings are over?
A big fat zero.
Today (16th November) apparently is the date for a criminal proceeeding against Speak Asia, and I’d be very surprised if the EOW/CID etc. etc. didn’t show up to that one.
Want a taste of how things are going to go? Here’s what EOW and MCA had to say yesterday.
The head of the Mumbai EOW:
The MCA:
Does that sound like ‘victory is shifting towards SAOL’?
Roll on the criminal proceedings, today’s (non-AISPA) hearing should be very interesting.