Honest 836 Report post Posted May 22, 2011 Thanks for the useful links dear Dhiraj, Rajan. +1 Share this post Link to post Share on other sites
Honest 836 Report post Posted May 22, 2011 Posting some Videos for the benefit of the community : STAR News exposes Speak Asia Online http://www.youtube.com/watch?v=93VMHoiEa90 STAR News visits Speak Asia office in Singapore http://www.youtube.com/watch?v=fUV9wLNZlpI Share this post Link to post Share on other sites
Honest 836 Report post Posted May 22, 2011 Here are some more Videos : AAJ TAK's special report on Speak Asia Scam (Sab Banengey Crorepati / Hun Mauja He Mauja) Who is the owner of Speak Asia? : Headlines Today's special report Share this post Link to post Share on other sites
chandannasta 4 Report post Posted May 24, 2011 Three Months down the line. Got more then 280 members under me and I along with everyone are earning till date. So as long as the money keeps pouring in no issues. Share this post Link to post Share on other sites
rajanmehta 4,056 Report post Posted May 27, 2011 That's going to STOP now... All accounts of Speak Asia frozen in India, Singapore BTW now is the right time for you to share with us your complete story... How you became a member of Speak Asia? Did any RIMweb member motivated/provided you the info? Through whom you got registered and made further 280 Members? Were You Approached by Someone? Give complete info because here Everyone Values Your Honest Opinion... Only thing there is no monetary payment for it as some would say Honesty does not pay (That's TRUE only in the short run though).. Share this post Link to post Share on other sites
amitnsonu 72 Report post Posted May 27, 2011 they were running the company from a small room in a big building Share this post Link to post Share on other sites
vikasmahajanz 33 Report post Posted June 3, 2011 ALL questions and answers are listed in this link : http://www.speakasiaonline.com/sp_faq.aspx As per forum rule links are not allowed but this is FULL FLEDGE information Regarding Speak Asia Pros and Cons(if any)... So if moderator feels then he can add my post otherwise post the Q n A from there on the forum... RegardsVikas Mahajan Share this post Link to post Share on other sites
dkaile 1,051 Report post Posted June 3, 2011 (edited) ^ Totally unconvincing and smells of fraud in the making... Virgin island is a known category 1 tax haven for all the drug and mafia money in the world... Edited June 3, 2011 by dkaile Share this post Link to post Share on other sites
digitalnirvana 646 Report post Posted June 3, 2011 It says RP payouts happen when the panelist burns those earned reward points for purchase of products and services from the website. confused, do panelists get $ or get reward points which they need to spend to buy things?This is the company’s confidential data, which unfair competitors would dearly love to know; hence the names have not been publically disclosed . Spelling mistake.The 3 ways to join and participate on the SAOL portal are: To produce an income statement from any of the global top 20 online survey companies, showing an annual income of $1000 or more and join SAOL for free.By appearing and passing a test and an interview one can join SAOL for free. By subscribing to E-zine “Surveys Today” for Rs.6, 000 for 6 months subscription and Rs. 11,000 for a yearly subscription one can join SAOL for free. e-zine “Survey Today” is a magazine Globally Distributed by Haren Ventures Pte. Ltd Singapore (HVP), which contains information about various products and services and market research techniques etc. The sum of Rs 1,000/- or 6,000/- or 11,000/- that the panelists pay is for various types of subscription of the e-zine “Survey Today” and this is not an investment. The subscription to the e-zine is only one of the three ways which makes the panelist eligible to join SAOL portal for FREE. How can this be done? Share this post Link to post Share on other sites
rajanmehta 4,056 Report post Posted July 30, 2011 Speak Asia COO, 4 Others arrested for duping investors >> http://www.mumbaimir...-investors.html Over 13 lakh investors have been cheated of Rs 1,320 crore; Enforcement Directorate report says much of the money may never be recovered SpeakAsia dupes investors of Rs 1,300 cr >> http://timesofindia....how/9418145.cms Share this post Link to post Share on other sites
Rahul Always 87 Report post Posted July 30, 2011 Speakasia unfortunately ended up as just another Bonzai scheme duping investors. It was just another MLM (Multi Layer Marketing) scheme where the only income was from people who kept investing in it. There was no "business model" per se and no where could the CEO of Speakasia show how he managed to generate revenue. Money would always require to be generated for any real business model to survive and this was not the case with Speakasia. The scam was almost busted in Apr/May this year which is why I am surprised to see entries supporting Speakasia even as late as Jun. The biggest problem with Speakasia was that there was no single point of contact, someone who actually was involved in the business, anywhere in India. The real people who made money all had accounts in Singapore and they all ensured that the money was sent to Singapore as quickly as it was invested by poor investors who finally ended up being duped. As with any MLM scheme, all those who "joined" this venture at the beginning all made money. Their success was what ensured that more and more people were convinced to invest their money and time in undertaking surveys. One more issue which came out even as this scandal was being busted was that none of the companies that were supposed to be making Speakasia undertake surveys actually did so. In fact, they all stated that they had never ever employed Speakasia for carrying out surveys on their behalf. A similar scheme had occurred a few years ago (3-4 years ago if I remember correctly) where a firm from (again) Singapore allowed people to deposit 3000 rupees each for which they would be required to transcribe accurately 30 pages per day. Each page comprised of one scanned name and one scanned number and this was required to be transcribed accurately into the boxes provided. Accuracy of less than 90% was not acceptable and people were allowed only 30 pages per day. They were paid Rs. 2000 at the end of the month so that all who invested initially recovered their money within 2 months and then started making profits. This was one crazy scheme where people actually opened up 100s of accounts hoping to cash in on easy money. You could access the company site from the internet and cyber cafes used to be filled with people busily entering the names and numbers each day. This scheme too ran out of luck soon as one fine day the "owner" packed up and left. We all love to make easy money. We just need to remember that money cannot be generated without a genuine business model. Any business which cannot spell out clearly how the money is being multiplied needs to be put under a scanner (microscope if possible). And to be honest, no self respecting business would ever require you to pay money up front to be able to become a part of it. So any scheme that asks you to invest to get returns (unless you are sure about their business tie ups) is ever going to see the light of day in the long run. Just hope we members of Rimweb here keep away from such easy money making schemes and accept that money that we make as part of our daily work should suffice our needs (and greeds too!) Apologies to the mods if this article has hurt anyone unintentionally. Share this post Link to post Share on other sites
amitnsonu 72 Report post Posted July 30, 2011 (edited) and to my surprise people who are member of Speakasia are protesting against the arrest of coo. how funny Edited July 30, 2011 by amitnsonu Share this post Link to post Share on other sites
Arun 795 Report post Posted July 30, 2011 The downfall starta when the payments stop and their "loyal" members (from with the ones at the bottom of the pyramid) start filing complaints against the company. Just came across this comment posted today on their Facebook page from some member there... Everything is over now, patience could not be pulled for long.... Lets overcome wid the fact that we are being fooled time and again by SAOL after its flash by star news... 3 month have past by not a single pence in my pocket and yet u talk about patience..... Screw u SAOL Share this post Link to post Share on other sites
Rahul Always 87 Report post Posted July 30, 2011 Obviously the complaints would start from the lower rungs of the pyramid only since the ones who are sitting up at top would have already recovered their initial investments and made more than their share of profits. Unfortunately, most people rush in when they see others earning "free cash" and that is when the fall hurts them maximum. Share this post Link to post Share on other sites
digitalnirvana 646 Report post Posted July 30, 2011 The bad thing is the television ads continued even after the news channels reported their investigations. The ads were targeted to gain confidence of prospective member and to enhance the brand reputation, so they should have been banned by the government, or through self regulation of the television channels. It is ironic that media was baying for speakasia's blood but also allowed speakasia to use it and spread its business. Share this post Link to post Share on other sites
vikasmahajanz 33 Report post Posted July 30, 2011 (edited) CEO MANOJ KUMAR addressing SPEAKASIANS 30-July-2011 FRIENDS I M NOT PROMOTING JUST A LATEST CUT OF SPEAKASIA IN FRONT OF YOU.... Just Showing Some +ve Sides... admins if allow can post.... Edited July 31, 2011 by Honest << Not allowed to edit post in this thread >> Share this post Link to post Share on other sites
Honest 836 Report post Posted July 30, 2011 Speak Asia COO arrested in Rs 1,320 cr fraud case http://www.youtube.com/watch?v=QlC_69ATNgY&feature=player_profilepage Share this post Link to post Share on other sites
Saurav 22 Report post Posted July 31, 2011 The fact is I lost 12K with Speakasia. Unable to redeem my points what ever reasons me. Share this post Link to post Share on other sites
Honest 836 Report post Posted July 31, 2011 ^^^ Dear Saurav, did you join SAOL through a Rimwebian ? Share this post Link to post Share on other sites
Honest 836 Report post Posted July 31, 2011 @Vikasmahajanz You are not allowed to edit your previous posts in this thread. Thats why the content of your edited post has been removed. If u want, you can make a fresh post for the same. 1 Share this post Link to post Share on other sites
Honest 836 Report post Posted August 2, 2011 Whistleblower of SpeakAsia hopes for a law to curb fraud The Times of India l Mumbai l 2nd August 2011 Even as those behind the alleged SpeakAsia fraud cool their heels behind bars, the man behind their arrests, complainant Navniit Khosla, hopes that the case would convince the government to pass a legislation to curb such offences. Sitting in his Bandra office, Khosla, the managing director of PFIC Consultants Pvt Ltd, recollected how he was lured into the trap that cost his company Rs 5.7 lakh. In February, the PFIC director told Khosla about Ujjwala Shetye-she had also invested in the scheme- who had apparently spoken to her about the Singapore-based SpeakAsia Online. "Shetye said if we invested Rs 10,000 in the online survey scheme, we will get two assured surveys per week on consumer products. We were promised Rs 500 per survey," he said. Khosla was initially not convinced by a scheme that promised a return of 10% per week. "Even banks don't offer this kind of a return and so, I suspected that it could be a fraud," Khosla said. However, Shetye and another person, Amit, managed to convince Khosla about the credibility of the scheme by saying the surveys were offered to reputed clients, including high-profile banks and FMCGs. As his company was new and needed money, he consulted with his director, who after initial hesitation, agreed to invest. Both Khosla and the director became panelists for the scheme, with the money funded by their company. The Shetyes allegedly also told Khosla about the added benefits if he could get others to invest. But Khosla refrained from doing so. Khosla apparently first smelt a rat when he was not given a receipt for his payments. "However, they told me that SpeakAsia did not give receipt or invoice," he said. It was only in April15 that he received invoices for a part of the investments. Khosla has, so far, received Rs 1.6 lakh as return but the money has stopped coming after SpeakAsia's alleged fraud was exposed on May 12. This came to light after a fair in Goa, held between May 9 and 11, where chief marketing officer of the firm Vivek Gautam claimed that they had connections with banks and other firms. "This was a false statement and was denied by the respective companies," Khosla says in his FIR with the Economic Offences Wing. Its CEO Manoj Kumar later called Gautam's claims a "communication error". According to Khosla, it was clear that the firm's business model had no product- or sales-related income from which it paid the panelists and the money-rolling scheme was banned in India. "I, along with other panelists, was cheated. ...this was a criminal conspiracy with the intention to defraud and cheat Indian citizens," he said. Share this post Link to post Share on other sites
Rahul Always 87 Report post Posted August 2, 2011 Let us just hope that people get wiser. There is no easy money and absolutely NO FREE MONEY. The faster people realise this, the quicker that scams like this will come to a dead stop. Share this post Link to post Share on other sites
Arun 795 Report post Posted August 3, 2011 Now it gets more interesting: http://moneylife.in/article/speak-asia-says-cannot-send-surveys-as-server-is-in-police-custody/18626.html After all this, I saw the following on SAOL Facebook page now... Really? 2 Share this post Link to post Share on other sites
rajanmehta 4,056 Report post Posted August 4, 2011 Tears in my eyes with uncontrollable laughter generated. Human greed and stupidity knows no bounds. The race is really between which one gets the first place. Share this post Link to post Share on other sites
tanveer 59 Report post Posted August 4, 2011 Most of times both go hand in hand. Sent from my MB525 using Tapatalk Share this post Link to post Share on other sites
