Speak Asia fraud allegations unsettle its 15 lakh members
SAOL is a company that asks its consumers to pay Rs 11000 for membership, which allows members to earn Rs 500 per survey that needs to be filled out by the members for the firm.
Allegations include false claims made by SAOL of having clients like ICICI, Nestle, ING Vyasa, Bata and Nestle. In response to this, Speak Asia India's Chief Executive Officer (CEO), Manoj Kumar, told reporters during a press conference held on Monday, " There has been some miscommunication in the media about our relationship with the companies. Our marketing team had during a trade fair in Goa said that the companies were our clients. There have been some factual errors on our part. I apologize to the companies on behalf of my team. We have only worked with them." Speak Asia does not have any registered office or registration of any kind in India.
The officials also failed to clarify the authority under which the company operates. The president for emerging markets, Narayan Rajagopalan informed the media that they are in the process of setting up permanent offices in India, the first office would resume from 1 August and they would have end up establishing 5 offices by the end of 2011. Their first office is to be established in Mumbai.
Speak Asia fraud allegations unsettle its 15 lakh members
![Speak Asia fraud allegations unsettle its 15 lakh members]()
Reviewed by Kavitha Sreedhar
on
9:25 AM
Rating:
HENCE THE SPEAK ASIA IS FRAUD
ReplyDeletethey distribute money from which source of income.
ReplyDeletetell me please! is this a fraud co. or a legal... I joined it with 11000. Now I don't know what to do...... Khem Raj
ReplyDeleteDear All,
ReplyDeleteThis is about speakasia online.
First I request Speak Asia should have good vocal CEO. I doubt his capabilities. The company Business module is good. It going to give a tough time to all TV channel if it is allowed work peacefully.
Good Module
1. Now they have 20 Lakhs members in future if its grows all CGC/ FMCG will advertise in speak Asia with approximately 100% viewership of every advertisements.
2.FMGC/CGC can sell product directly to target group cutting down distributors.
3. Good and updated data for any company is important to sustain and improve in business. Selling data of consumer to any company can earn big bucks. Even this statistics will help company to grow beat competition, RD will develop better product..so and forth.
So whatever it is the module look good to me and new thinking. But took a wrong approach..not seating up any office and not have right people on board..
The CEO is ok ...
CMO - is a duffer he need to be sack right way..he is the one who mislead the media....
Speak Asia need to think. Why the chairman she is not on TV..media chase her..and find out the actual facts..this guy’s of no use..If it’s a fraud it’s just Indian people is getting coaxed not the company chairman who is seating in Singapore...
Once beaten twice shy. I think we all seem to have forgotten this proverb. Any one who is giving 3500/- per month in an investment of 11000/- is surely a fraud.
ReplyDeletedear sir speak asia module is new concept to india.mr. narayanan was more impressive in dispelling the doubts of the media.it is necessory to interact with media more often &keep informing its members about the latest developments to keep their confidence in speakasia.
ReplyDeletepareshan mat ho yaaro koi company kahi nahi gayi hai maine bhi speak asia me 110000 lagae hai aur last monday mere account me survey ke aur sabki joyning ka takreeban 60000 pada tha wo mere bank account me aa gaya iska matlab abhi company nahi bhagegi baki ise bhagna to haihi jab tak hai apna paisa nikal lo bas
ReplyDeleteHeadlines Today exposed this as a 5000 Cr SCAM as it is regarded as MLM. I think this is a SCAM as their top management people are contradicting each other and misleading the innocent investors. They need to address the ongoing grievances of investors to capture the lost confidence.
ReplyDeleteCan One Challenge the Fact which has been Raised about SpeakAsia.
ReplyDeleteAny One Who claims Of earning from Speakasia they himself has given Even a SINGLE Paise Asa TAX To Govt. Of INDIA.
IF any of U dare to Say of earning from SPEAKASIA, Come Forward and Pay TAX To Our Govt.
I think speakasiaonline is VERY GOOD concept and what they are clamiming is MASS CONSUMER empowerment is true by all means. So it can be continiued by removing any loopholes it has and it should be alllowed to start operations in India. I guess, all educated people have joined this. This can not be fraud. I support them and definately would like to join them. Just waiting for movement.
ReplyDeleteNilesh
This is more to do with the vested interest if the media. maybe they feel that with the increasing popularity of "Speakasia" companies in general would rather advertise on "Speakasia"
ReplyDeletecompany distribute money by registration fee.. it is totly frud. lets understand how it works.
ReplyDelete1-2 : one people get paid by encome of 2 people.
2-4 : 3 people paid by 4 people
4-8 : 7 people paid by 8 people
8-16: 15 people paid by 16 people
and when joining end then company leaves d country.. and huge people who join at end face loss.
Hi All,
ReplyDeleteIt has been really a Holocaust of events. Why is the media and authorities woken up so late....if it has correspondents(media) and system (Authorities) everywhere, then why is that they came to know about such facts after a year...all are just trying to make a news about and earn their trp/money....Now that 15 milion Indians are into it, is the media going to pay back the money invested, Why is the media bullshitting and not thinking to help the fellow Indians and correct things, so that every investor is safe and he /she is not worrying about the Co. running away with there hard earned savings.
Please I request Media not to hype , find a solution to acheive a win win situation.
If SPasia is FRAUD or cam, there are plenty of policemen to arrest the CEO. Till now no one is dare to do so. Media highlights too much about it so everyday speakasia no doubt increasing its publicity. May be media and speakasia has some give and take relations.
ReplyDeleteDEAR SIR,
ReplyDeleteAS A SPEAK ASIAN WHAT I FEEL FOR THE COMPANY IS " VISION BEYOND IMAGINATION ".THAT IS THE REASON PEOPLE ARE BEHIND THIS COMPANY. THE POWER OF CONSUMER EMPOWERMENT HAS ALREADY BEEN SEEN THROUGH THE ANROID PHONE AND LCD TV CAMPAIN. NOW MY VIEW ON THIS IS " A COMPANY PRODUCE A PRODUCT FOR SALE, HIRES MANAGEMENT TRAINIES FROM IIM'S FOR MARKETING AT HIGHER PACKAGES, ENGINEERS FOR PRODUCTION DEVELOPMENT AND R&D DEPARTMENT EXPENCESES ARE NEVERENDING STORY FOR THE COMPANY.IT TAKES ALOT OF TIME FOR THE COMPANY TO KNOW HOW TO IMPROVE UPON THE SALES TARGETS WHAT IMPROVEMENT SHOULD BE DONE ON THE PRODUCT HOW IT PERFORMS IN VARIOUS REASONS ETC MOST LIKELY HOW THE ADVERTISEMENTS IMPACT ON THE CONSUMERS ETC. WHERE AS SPEAKASIA COMPANY CAN PROVIDE A PLATFORM FOR THE COMPANY TO HAVE AN INSTANT ACCESSES TO THE CONSUMER OUTLOOK AND REDUCE TIME AND MONEY FOR IMPROVEMENT ON THERE PROFIT. LIKE DEFENCE R&D SPENDS A HUGE AMOUNT ON ITS MISSILE PRODUCTION AIR CRAFT DESIGN ETC WITH MANY FALURES THEY REACH TO SOME IMPROVEMENT POINT ON THERE DEVELOPMENT PROCESS TILL THAT US & RUSSIA TECHNOLOGIES HAS IMPROVED A LOT. IF WE BUYU THE TECHNOLOGY DIRECTLY FROM US IT WOULD HELP A LOT IN THIS PROCESSS. MY OPENION ON SPEAK ASIA IS IT IS THE SUPER POWER LIKE UNITED STATES IN THE CONSUMER EMPOWERMENT FIELD AND THE CHANNELS BEHIND THIS COMPANY ARE OSSAMA BIN LADEN AND LASKARE TOIBA GROUP.WE SHOULD STAND TOGETHER AND FIGHT ANGAINST THIS TERRORISSIM ON THE IMPROVEMENT OF 1.09 MILLION PEOPLE AND MANY MORE AHEADE.
L N MOHANTY (MBA,HR ) ,BHUBANESWAR
A PROUD SPEAK ASIAN.
well said mr mohantly ,as a speak asian i too have full confidence in the way company is working ...we are with the company
ReplyDeleteWell I am very surprised the media woke up now to expose about Speakasia as fraud after it was shown in Imagine TV few months ago to join Speakasia.
ReplyDeleteIT-services/ BPO companies are giving peanuts to its employees after taking 90 % of the profit. What is wrong with speakasia if they are giving more money to its employees ?
ReplyDeleteThis is a Ponzi scheme....(money goes round and round)...no business model...collect money from 100(11000 x 100 = 11,00,000 and distribute it to 5000 (2000 x 500 = 10,00,000) pocket the rest of 1,00,000....and this keeps going on on onn...all u SpeakAsians...Think this out...there will come one day when the scheme will end and the last bunch of people who join will be at a loss....
ReplyDeleteif this is a genuine co then why the hell they have not opened an office in India and not registered with ROC and SEBI / RBI....
As per the Govt laws no co can operate in India without proper registeration with RBI/SEBI/Fin Min/ROC etc...
if the law chases them they will vanish one day...so be careful...
PS.. all those Speakasians who have made money will sure disagree with me...but think of all fellow Indians who will lose when they close down...
Even I too was contacted by the President of this co for investment, when i asked him some questions and clarity on the scheme (if this was a Ponzi scheme etc, to email me all the details...) he just vanished and did not email me any details...as he realized that i was a little bit more educated guy aware of the fraud....so be careful...
all the best...
This is a Ponzi scheme....(money goes round and round)...no business model...collect money from 100(11000 x 100 = 11,00,000 and distribute it to 5000 (2000 x 500 = 10,00,000) pocket the rest of 1,00,000....and this keeps going on on onn...all u SpeakAsians...Think this out...there will come one day when the scheme will end and the last bunch of people who join will be at a loss....
ReplyDeleteif this is a genuine co then why the hell they have not opened an office in India and not registered with ROC and SEBI / RBI....
As per the Govt laws no co can operate in India without proper registeration with RBI/SEBI/Fin Min/ROC etc...
if the law chases them they will vanish one day...so be careful...
PS.. all those Speakasians who have made money will sure disagree with me...but think of all fellow Indians who will lose when they close down...
Even I too was contacted by the President of this co for investment, when i asked him some questions and clarity on the scheme (if this was a Ponzi scheme etc, to email me all the details...) he just vanished and did not email me any details...as he realized that i was a little bit more educated guy aware of the fraud....so be careful...
all the best...Speak Asia scam