Mumbai police to block Speak Asia website?

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Speak Asia
Mumbai, Aug 9: Sources from Mumbai police reported that authorities are planning to block Speak Asia Online website over the allegations of online scam, which is estimated as big as Rs 2,000 crore. Speak Asia Scam: What happens to Investors' money?

Reports added that police officials contacted the Computer Emergency Response Team in Delhi to block Speak Asia's website after some of the investors complained of hacking attempts on their e-mail accounts connected with this firm. After Speak Asia scam, similar websites under scanner.

A report in TOI said that Navneet Khosla, an investor in Speak Asia, approached Mumbai police demanding a probe into hacking attempt on his email account with the firm. He said that he was only a 'panelist' or just a member in Speak Asia and never recommended anybody to become a member. But, after checking his email account, he found that he have nine sub-members (sub-panelists) under him.

Meanwhile, a Mumbai court remanded Speak Asia Chief Operating Officer (COO) Tarak Bajpai and three other Speak Asia officials in police custody till Aug 12. Police arrested Tarak Bajpai on Jul 28 after authorities received complaints on Speak Asia's pyramid scheme that promised exorbitant investment returns to the investors.

Mumbai police informed the court that they had found Rs 139 crore in the Speak Asia's 35 frozen accounts. The police said that the fraud amount has crossed Rs 2,276 crore, but going by the number of investors, the amount could be over Rs 14,000 crore.

According to reports, Speak Asia offered Rs 52,000 return in a year after investing just Rs 11,000. It has been found that there are more than 20 lakh investors across India and the company had 150 franchises across the country.

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