Speak Asia Fraud finally busted?
By amitgune
@amitgune (877)
India
July 30, 2011 1:27am CST
Speak Asia, the most popular Indian Company has finally proved to be a big fraud. Three top officials have been arrested and the fraud is equivalent to Rs. 1300 crore plus. There were always signs of this happening sooner or later. The company has paid money initially to gain the confidence of members. However it has stopped paying for a long time now. Hope that now people realize about these frauds. Why should a company conducting surveys on behalf of multinationals need to charge a membership fee of Rs. 11,000/- to its members who fill surveys for them? After all they are supposed to be paid by these multinationals. Can our dear people understand this? Seems like they do not. That is the reason, Speak Asia boast of 2 million members. What a pity. 
8 responses
@ravisivan (14079)
• India
30 Jul 11
Thank god I have not come across this company. In fact a month or two back there was a mention about this company fraud. It should have been like chain marketing. We believe new things because we have to have some hope. Many of us try many new ventures knowing that it may not succeed also. to keep ourselves engaged. there will be such fraudster and people getting cheated also. we should pray that we should not fall a prey to them.
@ravisivan (14079)
• India
31 Jul 11
yes. it is out of our desire to get more and more. Now post offices, banks offer reasonable interest rate on deposits. If u want to start a business that is ok. u do business and earn or lose. But out of desire to get more interest if it is invested in blade companies or given as loan to others then the principal itself will be at stake. I pray to God that he should protect me from becoming more greedy about wealth,.
@mohitraj321 (496)
• India
31 Jul 11
One of my best friend used to do surveys for speak asia and he invested 11000 rupee but he did not get any cash from this fraud site. He also interesed to add me in his downline but i refused his proposal because i was not to invest such a big money in a site so i joined Ramsurvey and i got my first earning as 2000 but after that i did not get any money now they are saying that they will pay only 650 rupees per month hope i can get my money back .
@amitgune (877)
• India
1 Aug 11
Ram Survey seems to be an equally big fraud. Have you checked their website. Most of it is under construction. Why should it always be under construction? Do they ever plan to construct it? A company which has only online presence has not made even a proper website. Any survey company that asks you to pay money upfront is using surveys as a bait. They actually plan on doing MLM.
@sona22 (1430)
• India
31 Jul 11
Amitgune, Is speakasia a Indian Company? But as per RBI notification it is Singapore based company. The most important thing that RBI warned the banks to receive deposit for the company and its affiliates.
One of my friend told me earlier to join with this site. I heard and finally denied. I was in the same though like you. Why for survey I shall pay so much?
@amitgune (877)
• India
31 Jul 11
It is a Singapore based company led by an Indian CEO. Interestingly the CEO is now in Dubai. The company has no operations in any country other than India. This itself should ring bells. A Singapore company which has no operations in Singaporeand has an Indian CEO.
@meenalkadian (348)
• India
30 Jul 11
Thanks amitgune
for sharing that information. Several months back one of my hubby's friend approached us for that. But we do not want to invest in any Multi Level Marketing company. Thank GOD our money was not go in this scam.
@surekharathi (14146)
• India
31 Jul 11
Yes I saw this news on yesterday on TV. I am lucky I not invested the money in it. Lots of people are enforcing me but I know we can earn money without investing then why we should invest. Now they all are saying me ohh madam you are lucky and safe your money is not lost. I think 11000 is much more. For earning 11000 full two month are required and invest with in a hour it is not possible for me. In our small town 100 people lost their money.
@amitgune (877)
• India
1 Aug 11
I feel really sorry that so many poor people lost their money. I had been approached by 3 to 4 of my office colleagues for the same. I had always said that it is a big fraud which will get busted someday. I feel sorry for them. They lost their money as well.
@rambabu12 (85)
• India
30 Jul 11
No pity, why pity what is the mining of pity either for speak asia, or for members joined to get more money. Do'nt show any pity until greedy people are around us many internet enterprisers saying the jobs on internet is 90% scam. leaving a deaf ear people are joing for gaing some big money from invest some small money. until the greedy people are there there must be scam on all. so never show pity on members or the company
@gmkumar08 (396)
• India
30 Jul 11
You are right,my friend.These days,it's very hard to find out what's genuine and what's not!So,we need to think twice before investing.One of my friend wasted all his time doing surveys in this site.He lost his investment and ofcourse,never got paid for his work.I really feel pity for him.Anyway,Beware of scams!
