Mumbai Police arrests Speak Asia COO Tarak Bajpai
The economic offences wing of Mumbai Police's crime branch has arrested the chief operating officer (COO) of Speak Asia Online, Tarak Bajpai.
The economic offences wing (EOW) of Mumbai Police on Friday took into custody Tarak Bajpai,
chief operating officer of Speak Asia Online, as part of its investigation into alleged fraud
by the survey firm.
Speak Asia is being investigated for a multi-level marketing fraud with many FIRs and PILs having been filed against it. Speak Asia would be inspected under Section 591 of the Companies Act, which is applicable on
companies incorporated outside India and that have established a place of business within the country.
After registering cases against Speak Asia online survey company, accused of running a ponzi scheme across the country including Andhra Pradesh, the state Crime Investigation Department (CID) has frozen the bank accounts of the company having an amount of over Rs130 crore.
According to CID officials, Speak Asia online company, being run by one Harender Kaur from Singapore, has indulged in a Rs 2,000 crore scam across the country. The company used to promise huge money for filling its surveys. Already, the ministry of corporate affairs, SEBI and Reserve Bank of India (RBI) are looking into the affairs of the company.
