Tuesday, 28 June 2011

Mainstream media widely reports speakasiaonline scam

The mainstream Telugu media has picked up the news of criminal case against speakasiaonline and four '24-hour News channels' have already telecast the news prominently. The two franchisees D Srinivasa Reddy and Lanka Venkata Ayyappa Swamy were sent to judicial remand.
Meanwhile, the CID sleuths have started more information on the number of franchisees and the members who have already made a sizable amounts in the racket. As per the provisions of PCMC Act, 1978, joining and making others join in such schemes is a crime.
The print media - both English and Vernacular - has already covered the news extensively and we have to wait and see what the police departments in the neighbouring states would do to curb the menace.
Several people congratulated Corporate Frauds Watch for lodging a complaint with the police and bringing out  one of the largest scams, of course second to Amway, in recent times.
However, there are no other criminal cases filed by others in this case like in the case of GoldQuest International.  

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