Speak Asia Online Pte Ltd. Refund Update: Latest News and Status

Speak Asia Online Pte Ltd. Refund Update: Speak Asia, a multi-level marketing corporation, owes approximately 1 lakh investors more than Rs. 2000 crore. Registered in Singapore, Speak Asia’s operations were limited to India. The company came under the scrutiny of investigating authorities as a result of its promise of simple money for completing online surveys. In June 2011, a crackdown revealed that the corporation was operating illegally in India. Speak Asia has fraudulently raised funds from individuals, either through subscription fees or compensation for completing surveys.

Speak Asia Online Pte Ltd. Refund Update

In February 2010, Speak Asia began operations in India, and within 15 months, more than 20 lakh individuals who enrolled in the organisation for online surveys contributed Rs. 2,276 crore. After the Mumbai Police lodged a case against Speak Asia, its directors, promoters, and others in 2011, ED initiated an investigation pursuant to the money laundering act. After conducting an investigation, ED seized 89.56 crores worth of Speak Asia’s assets.

In May 2021, a number of cases were filed in which the accused in Speak Asia was again accused of defrauding investors out of thousands of crores by establishing a new entity. Numerous individuals who have invested in Speak Asia have petitioned the Supreme Court in an effort to recover their funds. However, government agencies are still conducting investigations. Investors are still uncertain as to whether they will receive their money back from Speak Asia.

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