Speak Asia’s COO Tarak Bajpai Arrested Confirmed 29 July 2011

Times Of India, India Today, One India News confirmed that Speak Asia ‘s COO Tarak Bajpai Arrested Confirmed 29 July 2011

Speak Asia ‘s COO Tarak Bajpai Arrested

As Per The Times Of India

“ INDORE: The Mumbai police has arrested the chief operating officer of an online survey company for alleged financial irregularities, police said on Friday.

Tarak Bajpai, the chief operating officer (COO) of Speak Asia, was arrested late last night in connection with a forgery case from the Vijay Nagar police station area, City Superintendent of Police Amarinder Singh said.

Singh, who refused to give further details, said that Bajpai was being taken to Mumbai for detailed interrogation.

The Singapore-based company Speak Asia, which is yet to be incorporated as a company in India, charges a membership fee of Rs 11,000 for a year. The members are expected to conduct online surveys for clients of the firm. Members are paid for conducting the surveys.

Following a controversy in May this year over the company’s operations, an investors protection group filed a public interest litigation (PIL) in the Bombay High Court. “[Source]

As Per India Today

“ Even as Indian authorities have started probing the Ponzi scheme of Singapore-based company Speak Asia, the police in Bangladesh arrested two of its senior officials from Chittagong on Wednesday.

The arrests were made after an investor filed a complaint against the website for “conning” him. Complainant Suman Chowdhury had filed the case at Kotwali police station in Chittagong accusing the officials of misappropriation of funds.

Chowdhury said, “Speak Asia is a fraud company. Me and thousand others have been fooled by it. Last few months they have been missing from office.”

Following the complaint, the company’s officials — senior panellist M.A. Aziz Raju and panel leader Morshed Monzu — were arrested from their Mobarak Market office at the city’s Momin Road area.

The officials have been charged with cheating investors of 65 lakh Bangaladeshi taka.

It all started on Sunday night, when some angry investors confined the two Speak Asia officials in their Mobarak Market office for about an hour accusing them of misappropriation of funds. The police intervened and detained the officials the same night. Two days later, the police formally arrested them.“ [Source]

As per One India News

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New Delhi, Jul 29: After the reports of a multi-crore scam, Economic Offenses Wing of the Mumbai police has taken the Speak Asia COO Tarak Bajpai in custody for questioning.

Earlier, the CID department had frozen the bank accounts of Speak Asia, the online survey company, after authorities received complaints against it. According to some PILs filed against Speak Asia, it is involved in a Rs 2000 crore scam.

Some of the media reports alleged that Speak Asia ‘s pyramid scheme involves paid subscribers filling up online consumer survey forms and luring more into its fold in return for commissions.

Earlier, BJP leader Kirit Somaiya alleged that Speak Asia was involved in a multi-crore scam and had asked the government to investigate into these scams. “ [Source]

All news confirmed this news Tarak Bajpai Speak Asia ‘s COO Arrested. This news is not a rumor anymore, it is confirmed