Speak Asia Online, a Singapore-based company has been cheating the gullible Indians with the inducement of easy and quick money. On 6th February, 2011, a seminar was organised by one of the franchisees of Speak Asia at a hotel in Vijayawada.
The speaker, one Mr Siva Kumar, enthusiastically described the business plan of the website company. On one hand, he says that it is a business plan and on the other hand, he says it is an employment in which one works for 40 minutes a week to earn a substantial amount of money.
Like all multilevel marketing schemes, Speak Asia also gives fancy names to its distributors. The are called panelists and each panelist could create sub-panels also. Each panelist could create only three IDs on a single telephone number but he could create three sub-panels on each ID. That means a person could create nine panels and work on all the nine panels to earn money.
There are two types of panelists : one Standard Panelist and the other Premium Panelist. One has to pay Rs. 5500 to become the Standard Panelist and it is Rs. 11000 to become a Premium Panelist. Standard Panelist has to undertake two surveys a week to earn Rs. 325 and Premium Panelist would be paid Rs. 930. Given the facility of nine panels under one person, he has the chance of earning Rs. 30,000 every month, the organisers claim. .
Speak Asia also used the same words 'fulfill your dreams' 'Retire young' like Amway crooks.
Then there is incentives for referring the business plan to your friends and relatives. Yes! it is a money circulation scheme with a fancy name. And they could earn more money by referring the business plan US $20 per person. And they could also earn money on the work done by the downline members. Rings any Bell? Yes. it is like Amway India.
Surprisingly, Some of the participants took exception to the scheme of referral saying it is also multilevel marketing. Immediately, the organisers said that it is only optional for extra income. What they do not say is that is the main crux of the business plan.
As long as there is new recruitment, the Panelists would be paid some amount for filling the survey forms. Once the recruitment stops, the company http://www.speakasiaonline.com/ may disappear.
83 comments:
I found useful information from your Blog. Affiliate marketing strategy gives numerous benefits to both parties. Businesses get the opportunity to boost their sales at very little cost and with zero risk.
Like all easy and quick business opportunities, this company also pays well as long as it receives new recruiters. Once the recruitment dries up the company runs away with its money. Nobody could take action against the company, but there would be criminal cases against people who recruit members in the country. So beware of such companies.
Is there any organization whether big corporates or government that don't do it, of course they do it by framing such law. there is only one entity on earth that generates money truely not circulate, is farmer.
It is the unjust enrichment which is illegal. At the cost of millions of people only few people of the company are making easy and quick money.
Knowing very well that it is not going work forever, they are cheating people. Understand the issue and do not cheat your fellow humans.
If this company is fraud why Govt and other authorities are not taking any action till now. Already 5 Lac people in India Joined the company and many more are joining daily.
I hope in 5 lac Indians( who already joined) there must be people from all walks of life. Are they all fool?
Will action be taken only after comapany run away.
RBI has the knowledge abt the comapny that millions of money is transfered to India by them every week. WHy they are allowing?
WHy?
"It is true that several companies including Multinational Companies carry on the business of multilevel marketing and it is also true that the executive and the law enforcing authorities keep a blind eye on such activities. This also does not make an illegal act legal. It is always a fact that the law enforcing authority would try to close the table only after the horse escaped. That is the law enforcing authority would realize that this scheme would ultimate leave a large number of persons cheated. Thereafter, after losing their money, they would approach the executive complaining that they were cheated. Till such time, the law enforcing authorities do not act. They do not take preventive action to enforce the provisions of the existing law." (Madras High Court in Apple FMCG Vs. Govt of India, State Govt of Tamilnadu. 07-01-2005)
This is the comment by the Madras High Court. This is what which is happening still all over country.
Hi Shyam,
Thanks for the info. As you said, if i recruit someone and tomorrow company closes, I can be punishable. However, in case if i just join this company and do the surveys and earn that money - is that also illegal. I mean if i dont recruit anyone, am i still liable for anything. Since you are an advocate you are th best person to answer this.
Thanks in advance.
As per the Prize Chits & Money Circulation Schemes (Banning) Act, 1978, joining and inducing others to join such money circulation schemes is also an offence liable for imprisonment up to three years. This is what the law says.
i think so u all dont know the importance of survey.
sorry to say that india will not progress like this if indians are
commenting bad words so without knowing anything about the company.
u should give ur opinion so as to product produced will be of your choice..
OK wise guy. Why should you pay for the survey? That too, different prices for different levels. And more money would pour in if you recruit more members. Don't you realise that this is nothing but a camouflaged money circulation scheme.For expressing your opinion about various products, you have to pay and in turn you would be paid. What a great racket!
Mr Shyam Sundar, i like ur persistence to talk sense into stupid people. such people will cry when the company will run away with their money and then blame to govt something about it, when they cant even understand simple maths behind this scam. i shed a tear for such brickheads...
sir please tell me about this mlm.
whether it is fraud or not , as i have already invested in this company..
Utkarsh,
Don't recruit people under you. Then you may escape the wrath of some others. Try to get back your money by conducting those 'fake surveys'. I hope you would get back your money. But chances are slim. Don't pump more money in with the greed to earn more money. That means you would lose more.
Dear Shyam,
Good analysis, I totaly agree with you speak asia is total fraud. The companies main business is to add more panalists (fancy name put for dumb people). Let me share a calculation for all.
Lets say in india 10 Crore are potential buyers for this scheme and each have will add 2 people as left and right child. Then amazingly what the calculation says:
x (log 2)=log(10 Crore)
x=26 (nearly).
This means that if you are first person to buy this scheme then the circulation goes down to 26 levels only which will cover whole of INDIA.
So, all those who are going to buy this make a estimate at what level you will be going into it. Because, that is very much sure that when company reches to lowermost it will certainly run away. Moreover its just website, much easier to reach people and even more asy to run away.
Do not forget company is charging 11,000 first and then starts to return back. If it had been a fair company it should had charged a tokenof say 500 Rs at first and then would pay for surveys accordingly.
So, all those who a convinced that company is legitimate, think again.
Mr. Shyamsunder Das for being a advocated it does't suit you talking like a fool. May i know what is your experience in the field of market research? May i know your experience in the field of MLM? Hope 0. For your kind information SPEAKASIAONLINE is not a black listed company actually ACRA has given to SpeakasiaOnline Pte. Ltd. as it failed to hold its AGM for financial year ended 31st May 2010 within stipulated period required in Section 175 and Section 201 of the Companies Act. This was due to the fact that the management was busy in setting up the business in India and were all traveling for long period of time. Further, Speakasia Online Pte. Ltd. has complied the requirement of Section 197 by submitting annual filing within one month from the date of AGM. Hence This rating will change to when the next assessment is done this year .
The above explanation should put to rest all miscommunication and misrepresentation that is happening by some vested interests on corporate governance in Speak Asia.
Mr. Shyamsunder Das would you please kindly tell me how can a company black listed by ACRA could work in singapore as well as india and planning to start there operations in phillipines & china also. Now coming to the point of money circulation, Can you tell me how can be possible that we were almost four lacks in the month of december and we all were paid in the month of january rupees 1600 crores (4000*400000) and the new joining in the month of january was only one lack (11000*100000)Rs. 1100 crores. So please tell me Mr. Das where this 500 crores rupees came from. Now coming to your knowledge regarding joining in speakasia is also nil. Here you have to pay Rs. 11000 for a premium panelist and Rs 6000 for a standard panelist, you will get rs. 1000 per week for a premium panelist (52 weeks) and you will get rs. 350 for a standard panelist (52 weeks). Now coming to the point of imprisonment, Prize Chits & Money Circulation Schemes (Banning) Act, 1978, Mr. Shyamsunder Das you have to first prove that speakasia is a money circulation MLM company.
Sir, my name is amit anand, i am from lucknow u.p. i was one of the TORCH BEARER among 450 speakasians.
I AM A PROUD SPEAKASIAN
Amit,
People like you only are responsible for the more members joining such schemes and losing their hard-earned money. You did not answer my simple question.
Why should I pay you for expressing my opinion on some product? That too different prices for different levels. That is nothing but money circulation scheme.
Dear shyam Sundar,
I got to know at you are journalist & advocate, But why prind media focused Speak asia online as genuine company......? {Please refer business news in Sakshi & Andhra Jyoti of 16 th feb}, Plz note , Here i am not writing in favour of said MLM.
Friends,
Journalists are also carried away by the false propaganda of these crooks. Moreover, many journalists are not aware of the enactment against money circulation schemes. The Prize Chits and Money Circulation Schemes (Banning) Act, 1978 prohibits any type of money circulation schemes.
i am very much proud to be an speakasian
Hi Shyam
I appreciate your efforts to caution people(aka Bakras) about this age old but flop MLM scheme.
I agree that people are getting paid .. but thats a fraction of what they have given to SpeakAsia.
By the time people get to breakeven, the company might just run out of gas.
Mind you...their business model is to some extent baseless.
I'm not saying that survey is rubbish.. But I feel that if people want to do surveys for HUL,ITC,Bajaj or any other company.. they should probably contact them directly instead
of going through SpeakAsia.
I have a friend who has made 14k after putting in 11k, this is all coz he was lucky to get into the chain in the beginning.. late entrants will be the one who'll get stuck with it.
MLM & Ponzi schemes have come n gone .. their main income was through the initial few members & when new members stop coming it explodes.
Thus I conclude with saying that SpeakAsia is like a timebomb in a gift wrapping.. the last person holding it will suffer.
hi shyam,
i have earned good through speakasia. i consider your concern for the people. as i had joined speakasia last oct 2010 i have now started earning profit through it.My remarks to the company are.
1:- Being a Co-MLM, it takes a joining fees through which it rotates the rewards for the sponsors.
2:- It has tie ups with companies which pay $30 per survey of which the company pays $10 to the panelist.
3:-Its not a long term money making scheme. One has to take a chance but one should not encourage people to invest if not sure with the future of the company.
4:-I find it the best MLM cum survey company to make its platform in india.Unlike other MLM, even if you dont get people to join below you, one can still earn through survey income.
5:- With speakasia, you have to think regarding that what you are investing, you are investing on your own risk no matter what returns you get in future.
Sandeep Pant, Lucknow
Hello Mr.Shyam.. i know abt speak asia its totally genuine and its not a Investment company understand. its an Survey company which the company pays for us and we earn. and coming to the 11000 rupees. We are purchasing the subcription package for 52 weeks like we purchase a Weekly Magaizine for 1 year so we purchase a Subscription Package for 1 year so that we will receive surveys for 52 weeks. and this is not any Money Rotating scheme. keep that in mind. Dont Misguide people ok ..
Hi Shyam,
i have invested in this and i am earning lot of money by survey...
if its fraud then how i m earning money....
i was job less person but now i am very happy to say that I AM PROUD OF SPEAK ASIAN, And i am earning lot money that never before.
I can see some "success stories" and a lot of what the "successful Speak Asians" would call cynical views of Shyam Sundar. Personally, I am totally in agreement with Shyam Sunder. I simply can't understand how this scheme can be a sustainable business model - I am not able to understand a basic point: If Speak Asia Online is able to recruit infinite number of so-called panellists, can there really be an infinite number of companies opting for paid surveys? Obviously the ostensible recipients of the surveys would have to pay to get the "paid survey results". It is inconceivable that they will pay an infinite amount of money. By the way, for those die-hard Speak Asia Online fans, I am not really expecting to get into a debate - please ask yourself this question and some very pertinent questions that Shyam Sunder has asked. If you feel convinced then, well that's your call....
Hi Sir..
I really like your article... and quit agree with it.. I came to knw aba this company speak asia thru word of mouth....
But something i was wondering about...that from Where Do Speak Asia earns money..to then pay to its members??
i guess if mr. shyam is unhappy about the fact that ...why did'nt he joined speakasia at a eary stage...leave advocacy and join speakasia and see where u earn more
Hi Mr. Shyam Sundar... are you a panelist with Speak Asia?
Joining and enrolling others into such schemes is a crime under the provisions of the Prize Chits & Money Circulation Schemes (Banning) Act, 1978. That is why no law-abiding person should join such schemes, Mr Arafat.
Dear mr. syam sunder, thank you for all your effort to make people aware of this kind of fraud. I need your help to stop thousanda of people enrolling into this scheme. Is there any authority where we can complaint. Many of my frieds join this scheme and I am not able to stop theme. We should try to stop this as early possible and save our economy hurt by such kind of scheme. Please let me know how should I stop them and make complaint against this scheme.
Thanks you for your honeat effort,
Dharmik, truly indian
speak asia will run on jan 2012
@shyam sunder:- i hope u have lots of time to make people aware..invest some money...and earn some....and fill surveys instead of passing time commenting.
@monika: it's not your mumma's birthday...that the company will run away.
@others: be proud of being speak asian...till the time money speaks...!!!
Dear Syam Sunder Das - I'm also genuinely interested in an answer to Dharmik's question. What can we do to raise this to authorities.
as per me either this scheme is ridiculous or it's mind blowing - right now I'm incapable of commenting on it. But if its not what it is... then isn't is a bullshit that our government, legal authorities OR RBI are mum on it. Speak Asia was on NDTV the other day and is spreading like mushrooms.... we can't be doing nothing if its a scam.
On its publicity strategies sometimes I feel that it might have some fundamental strength (though invisible as of now) because....if the company was a fraud and planning to run away – why are they advertising so publicly in ToI and NDTV? If they had to run they wouldn’t disclose so much about their leadership and make it a national affair.
I'm being an action oriented guy am really in a serious confusion. Convinced whichever way, either I'll report it or I'll join it.
Friends,
Kindly go to older posts to download the enactment of Prize Chits & Money Circulation Schemes (Banning) Act, 1978. Holding the copy of the enactment anybody could approach the police to lodge a complaint with the police stating that it is a pyramid or chain scheme. Generally, police accept a complaint if the victims approaches them. Find victims and lodge a complaint with the police. you will succeed.
hi shyam nice to read u
kilndly tell me do u know about GAML or webpaysu mlm plan
is it fraud or real
They are all alike. There is nothing like a legitimate MLM business. The whole business revolves around enrollment and if the enrollment diminishes, then the company vanishes. Don't fall prey to such frauds.
Hi sir,
i just wanted to know that recently add also being coming of speak asia in television.If its just a fake then why advertisement are coming in broadcast?
Showing advertisements means something truth lies behind what ever they say.
My friends are speak asian ,but still i want to go with your way
any business concern cannot be operated without taking risk.. so it is just a risk taking...so go ahead
Just pay money. It is easy to just advertise anything.
Hi, I am Sanjeev, like many other people I was having doubts about Speakasia. Now I am an speakasian, it is a good opportunity to earn money. I know what we are getting is our own money but company has a very clear concept and they are really selling these surveys to other companies. There are many companies in USA and Europe who pay you for the surveys, but Speakasia has introduced a unique combination of MLM and online surveys and this is going to survive in India with a consumer base of 120 crore. Companines in all the sectors, be it FMCG, consumer durable, NGO,s, Govt. organizations etc.. they need these survys and actually they are hiring speakasia to run these surveys for them. It is such a unique idea that those who are filling up these surveys are genuine people whos profile is there with speakasia. Speakasia don't pay you money blindly, they also deduct money if you fill wrong information in your survyes. So clear your minds who have doubts about the authanticity of Speakasia and start earning money. There is a saying in hindi "Sakal padarath hai jag mahi karm heen nar pawaat naahi."
So stop doubting and start working!!!
This fellow Sanjeev is one of those dangerous fellows who do not mind to cheat their own friends and relatives. He knows that the speakasiaonline is paying his own money. Still, he says that it is a good business opportunity. The simple question why should we pay to express our opinion on products during survey remains unanswered. If the companies are paying speakasiaonline why should they collect money from us. Don't you think that it is cheating.
My dear fellow Indians, do not fall prey to the evil designs of such crooks.
Dear sir,
I cannot agree more with you regarding the same issue.Very soon we might hear that Speak-Asia has stopped speaking and God alone knows how many people would have lost their money.I too was offered a panellist's job yesterday but turned it down.I have also read many complaints that after the user-id and password is given to the panellists they are unable to complete the surveys because of the website being down and the ridiculous excuse given by Speak Asia is 'bandwidth problem'.Time to put an end to this.
If you find any victims who lost money or could not make money due to any reason, kindly organise them and file criminal cases against that company under the provisions of Prize Chits & Money Circulation Schemes (Banning) Act, 1978.
Hello,
I would like to know about the recent public notice that has been issued in TOI of speakasiaonline signed by a reputed advocate consultancy in india A.K. SINGH & CO.
I feel you being an advocate are the right person to answer this!!.
Hello,
I would like to know about the recent public notice that has been issued in TOI of speakasiaonline signed by a reputed advocate consultancy in india A.K. SINGH & CO.
I feel you being an advocate are the right person to answer this!!.
By paying fees, it is very easy to get legal advise and justification from any legal consultancy. For instance, Mrs Nalini Chidambaram, wife of Union Home Minister, Mr Chidambaram gave a similar certificate to GoldQuest International. After criminal cases were filed against that company, she withdrew her advise. So, you need not take it for granted. Speakasiaonline is a fraudulent company cheating the gullible all over world. It is high time people realised it and came forward to file criminal cases against that company.
company advertise in television.... it means they want most people to join... and after most people get join .. they got most accurate results for surveys.. lakhs of people join daily due to advertisement. i tell u .. if company stands for 3 months.. u get ur money back ... otherwise all ur money get wastes.... i think company will run within 3 months because in this period of time they complete all their surveys and after no survey left.. they simpally run away so i suggest to not to join from now
i some aggry with rahul becose think company give survey income so calculate totally one survay cost for surveyer company is
500*1000000 = 500000000
speak asia said our panalist is 1000000 so totally surveyer company give for one survey cost is 5o crore so u think any comany is possible to give only survey to 50 crore.
shyam sir ... please can u tell me about RMP (rmpinfotec.info) .... any govt. illegal thing is there in this company .
i am asking about govt. illegality don't tell me about money rotation is a crime . that's i know very well. is RMP doing all thinks under govt. policies ?????????
Deepa,
RMP is another copycat of Amway India which has been cheating people all over India. Already several criminal cases were filed against it and still it is continuing its activities.
Good to see you doing some social work. But don't just write anything because you created this blog. People I am a speak asian and I feel proud to say so. If somebody really want to earn then it is only speak asia who could help you to achieve your dreams. It would definitely raise your standard of living and an easy quick hassel free income.
Follow my blog http://chiranjiv-speakasiaonline.blogspot.com/ for more updates.
Thankyou
Cj
Hi Blogger
Please just don't blog anything because you created this blog. Friends please follow my blog for more updates, http://chiranjiv-speakasiaonline.blogspot.com/
Thankyou
Cj
we bangladeshi people are suffering. speakasia stop payment and then survey too. now we getting payment from indian people as $1=30 BDT
This is big time fraud and people who get early make money and spread news..
For survey every company keeps some budget and if lacs of people join like this wheres such a big budget for companies... do u think all companies will rely on survey only of speak asian?? there is no qualification for joining this-- hence will companies rely this survey.... this is like teak wood scheme... lacs of people lost money.....few on top of chain make money and join hands to dupe others.. Shame on u people
speakasiaonline is not a fraud.
we are giving surveys and company is paying for this.
for example-in case of Bpo's employees call the customer on their mobile phone and take surveys....a lot of cost is involved like communication cost,salary of office people,rent,infrastructure,cabs,food etc.
on other hand speakasiaonline.com is doing same replacing the work of bpo's who take surveys and also paying us....
But you do not answer the fundamental question. Why should we pay to express our opinion in the survey. If we work we will be paid and to get the payment why should we pay?
speak asia team is totally fraud....
why they only want asian people to give survey ?
answer:bcoz we people become fools easily and our govt.is good for nothing....
why don't they spread their network to European countries...?
becoz their govt. will cut throw them away ....and people their are educated,know value of hard earned money...The country like INDIA,BANGLADESH are considered pooor and neeedy.INDIA is the market for all such scams...
ALL people just remember that no such money making technique is possible for long time on this EARTH.
u can earn money only if u are doing Productive Activity...increasing GDP of Nation.
i agree with u sir shyam sundar jee
plz ans me
i am 100% agree with respected shyam sundar sir......indian people r really fool and mad just because of illiteracy...when the slope of graph of joining panalist will down the company ran away..n this time it is at the peak position...think before u tinkk
I have recently joined speakasia. But question in mind arises,which all companies pay speakasia for conducting the surveys!
nikhil.
no dear becoz before giving any add to any provider company needs legal documents first...which speakasia dsnt have.....
arjun
sir i have recently joined the speak asia.but as i have come across the reviews about the company , some great fears are troubling my mind.will i be able to recover my money, as it is in inital stage...
Ok Guys I joined on 1st December 2010 for Rs 11000/-
Till date i have cashed 20,000 which have been transferred to my bank a/c( after deduction of approx Rs 2000/-).
3 months after paying 11000/-I had recovered my signing up fees.
I also signed up two people under me in January and was paid an additional Rs 3000/-. Those two people have also recovered their 11000/- each. Besides I am also getting Rs 300/- a week for the surveys filled out by these two people.
Now I laugh all the way to the bank at......
So who is approaching the police to get laughed at.....
Members of GoldQuest International laughed all the way to bank and now are on the verge of tears all the way to the jail. They are all facing criminal charges once the chain was broken. The police have taken the list of all the members in the chain through the computer data and filed criminal charges against them. Anyway, be prepared to laugh or cry all the way to the jail.
Dear All, with lots of respect to Mr. Shyam, whatever he is saying is facts..Mr Shyam, dont waste your time with these illiterate people..how can these people understand the meaning of business model..
The Ministry of Corporate Affairs (MCA) has ordered a probe into market research agency Speak Asia after media reports unearthed shady workings of the firm. http://bit.ly/kMBRCK Let us see the outcome.
Mr. Shyam,
I joined in speakasia 11 months ago. from that I didn't recruit any single person to this company. But, still i am getting good income from this company for my 'JOB'. I am doing only survey every week, and getting income every month.
Then why you saying, as this company is a money scheme ?
Like me, many people are getting income without joining anyone.
As I Already informed you that MCA has ordered a probe into SpeakAsia, SpeakAsia has arranged a press meet on 16.05.2011, read the excerpt in the following link of Business Standard - Speak Asia: A Primer http://bit.ly/iGpIBE
I just heard today in the news channels that surveys are not their main business but "side business" and they are not obliged to continue with it. Their main business is news letters (?) Also, there is no evidence of any company actually giving them contracts for the survey. I have been researching about this company for quite some time and I can safely say that it is a fraud. But I surely admire the pulling power of the company. It has attracted so many people in a very short time.
I DONT AGREE WITH THIS
THIS COMPANY PAYS ME REGULARLY SINCE STARTING(MAY.2010)
I STARTED WITH ONE ACCOUNT TO CHECK & I REGULARLY GET MY MONEY IN MY BANK ACCOUNT.
AFTER THAT I INVEST MORE MONEY & I GOT VERY GOOD RESPONSE FROM THIS COMPANY. WHY MEDIA IS DOING THIS, I DONT ABLE TO UNDERSTAND.
shyam sunder is an ass hole.till the time speak asia leave all indians become rich and india will be developed country.proud to be speakasian
shyam sundar people like u never take risk in life and they could not earn any money and stay middle class. now u r seeing people earning from the company so u r jealous . people like u who cares about their 11000 can not do anything in life. proud to be an speakasian . dont speak whwn dont know anything.
Mr.shyam, Now spkAsia is register in india & opening escrow account with indian govt to pay money to spkasians, escrow account means govt can control apk's account, What are you say?
now itis proved that it is not registered and fraudulent indulging in money circulation scheme. Police are looking out for the mastermind of the racket. Look for at the latest post, my dear young man.
I read this completely but still, I don't understand the issue and I must say that just respect the opinion of each other.
Negosyo franchise
On 3rd April I had written that the business model of Speakasia is to some extent baseless.
I also wrote that Speakasia is like timebomb & can explode anytime as soon as new members start joining and thats exactly what happened.
If survey was what u wanted then you shud have cntacted the companies directly instead of going through SpeakAsia.
Ponzi schemes come and go & speakasia will be remembered as another one.
Best of luck to all its members, but i frankly feel that many may not get their money back.
Go Lodge police complaints to increase yr chances of getting yr money back.
Please for Gods sake stop abusing Shyam sunder.
The person has been guiding many of you to stay away from this SCAM , yet you guys dont bother.
I'm sure that Speakasians who got payouts wont listen to me or Shyam but understand this that your payouts are coming directly from the registration fees of newer members.
If new members dont join you wont get any payout.
Survey is just a shroud, its all crap.Dont believe in Speakasia & pls stop others to join it.
Shyam Sundar is right all the way. Two of my family members got carried away in joining this Ponzi company and now they suffer. I am from Lucknow, Uttar Pradesh and I am contemplating filing FIR against this cheat company along the with name of the leader who is my up-line. We Indians need to give a befitting lesson to the management of this company for cheating in promoting a pyramid scheme. That they are now trying to camouflage their cheat program by pushing e-commerce does not in any way mitigate the fact that their primary source of income will continue to remain by recruiting more suckers. The law enforcement is no less to blame as pointed out by Bombay High Court who sleep on mushrooming of such companies and only take action when complaints are made against the scamsters.
Shyam Sundar is right all the way. Two of my family members got carried away in joining this Ponzi company and now they suffer. I am from Lucknow, Uttar Pradesh and I am contemplating filing FIR against this cheat company along the with name of the leader who is my up-line. We Indians need to give a befitting lesson to the management of this company for cheating in promoting a pyramid scheme. That they are now trying to camouflage their cheat program by pushing e-commerce does not in any way mitigate the fact that their primary source of income will continue to remain by recruiting more suckers. The law enforcement is no less to blame as pointed out by Bombay High Court who sleep on mushrooming of such companies and only take action when complaints are made against the scamsters.
Don't contemplate. Go ahead and file a criminal case against speakasia under the provisions of Prize Chits & Money Circulation Schemes (Banning) Act, 1978 and Section 420 of IPC. If you want I shall send you the PCMC Act, 1978 by email.
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