Moneycontrol
Aug 12, 2011 08:42 AM IST | Source: PTI

One more arrested in connection with Speak Asia scam

City police today arrested one more key person in connection with Speak Asia's multi-level marketing scam, taking the total number of arrests in the case to six.


City police today arrested one more key person in connection with Speak Asia's multi-level marketing scam, taking the total number of arrests in the case to six.


"Rahul Shah, vice president of Tulsient Information System Pvt Ltd, a business process outsourcing (BPO) unit that looked after Speak Asia's financial affairs, has been arrested from the city," said Additional Police Commissioner (EOW) Rajvardhan Sinha.


Tulsient looked after financial affairs of Speak Asia and also played an important role in the controversial company's online surveys, he added.


Manoj Kumar, CEO of Speak Asia, is a partner in Tulsient and is wanted, police said.


The city police had recently arrested Speak Asia's Chief Operating Officer in India (COO) Tarak Bajpai, Financial Manager Ravi Khanna, technicians Rajeev Malhotra and Rais Khan and panelist Deepankar Sarkar and all of them were remanded in police custody till August 12.


According to police, the company had promised lucrative returns through a multi-marketing pyramid model. The firm allegedly duped over 12 lakh investors, also called panelists or members, to the tune of Rs 1,300 crore by assuring them commission if they introduced new members.

Meanwhile, under the banner of Speak Asia Panelist Association which claims to have support of 1.5 to 2 lakh members of Speak Asia would gather at Azad Maidan in south Mumbai tomorrow to show solidarity with the company. They stated that the company had not duped them.

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