Friday, September 16, 2011

Customs seize 1st Speak Asia import worth Rs100 crore

The Customs have seized the first import consignment worth over Rs100 crore of the Singapore-based online survey company Speak Asia after police investigations revealed that the import licence contained the wrong address. The address was actually that of a pizza shop in Andheri (East), revealed police sources.

The Economic Offences Wing (EOW) of the Crime Branch arrested six persons in the case, including Chief Operating Officer (CEO) Tarak Bajpai and Rajiv Mehrotra, head of information technology of the company, in July this year.

According to EOW sources, the first consignment of Speak Asia, containing electronic appliances like washing machines and LCD TVs, arrived from China a month ago. The consignment was over Rs100crore in value with a tax of Rs14crore. “When we checked the company’s address mentioned in the licence, it turned out to be a pizza shop in Marol area of Andheri (East),” said an EOW source, requesting anonymity.

He added that this information was shared with the Customs department, who then seized Speak Asia’s import consignment at Nhava Sheva port in Raigad district. “Speak Asia officials claimed that they had been selling electronic appliances under the brand name of YUG, which they said was a Germany-based company. In fact, the goods imported were manufactured in China,” added the source.

Another interesting fact that has come to light is that the company was conducting camps in several rural areas of the country and has allegedly duped several villagers in their multi-level marketing fraud. “Company officials would conduct camps in rural areas, first targeting public leaders or the sarpanch, and convince them to invest in their companies. Subsequently, villagers fell in their trap and invested their hard-earned money,” said another EOW officer.

He added that the company had conducted 200 rural camps in one year, even reaching far-off northeastern places like Tinsukhia and Dibrugadh. In Raigad too, the company had convinced several villagers to invest.

“We have seized two Mercedes cars, office space at Andheri and Goregaon, and two flats in Versova of accused Manoj Sharma. Tarak Bajpai’s bank accounts, personal accounts and a few properties have also been seized.
Friday, Sep 16, 2011
Place: Mumbai | Agency: DNA

Saturday, September 10, 2011

Speak Asia makes another frantic effort to fool panelists from filing FIRs

Speak Asia makes another frantic effort to fool panelists from filing FIRs

Pro-SAOL (speakasiaonline) sites are giving Breaking News of the Exit Option commencing from September 10, 2011. However, while is stating that payments will be made from Singapore as and when RBI allows TT transfers, speakasiaonlinemarketing run by Ashok Birwyani that self-proclaims itself as the official site of SAOL until SAOL’s website gets going is stating that payments would be made with RBI allows SAOL banking facility in India. These jokers are attempting to quell the unrest among the panelists who are now resorting to filing FIRs against this company. Various State High Courts are preparing to take up cases on the basis of the FIRs being filed similar on the lines of Andhra Pradesh Court that has frozen bank accounts of distributors/franchisees and re-arrested SAOL employees. The fact is that RBI is in no mood to allow banks to give banking facility to SAOL which is being treated as MLM and whose main source of income will continue to be getting more panelists though showing e-commerce is just an eyewash to fool one and all. The Exit Option actually confiscates panelists Reward Points earned on doing their surveys/opinions.

SAOL, actually run from Mumbai via a private company of its CEO, India, Manoj Kumar makes no mention of the name of their new bank in Singapore after their earlier bank, USB had terminated its accounts. Global CEO, Haren Kaur, and CEO India, Manoj Kumar continue to abscond abroad towards the Indian Authorities propose to issue Red Alert notice via Interpol.

Though these pro-SAOL sites also claim that EoW has no case against SAOL as per the final judgment by Mumbai High Court on Sep 7, yet they continue to harp that the website is in the hands of the EoW!

Promises on dates of restart of website and normalizing of functions have been postponed now for four months.