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Opinion

Speak Asia: Scam or For Real?

(Updated 16/5/2011: See Links Section)

Another Multi-Level Marketing (MLM) scheme called Speak Asia is now doing the rounds. With big ads on TV, newspapers and online, a number of people are perplexed about it – so what is it, real or scam?

CUT TO THE CHASE: If you are approached by someone for this scheme, please tell them:

1) You will not pay any money to this scheme at all.
2) They can deduct the subscription charges off the first few surveys that you do.

If they say no, there is something wrong. People have stated that this option is available.

What’s the concept?

You get money for filling out surveys. Supposedly because some company wants to pay for those surveys as market research. They want to pay it out to you.

Out of their kind hearts? Where’s the survey? (Fishes out multiple identities)

No, you fool. You have to pay for the privilege. $120 (standard) to $220 (premium). They’ll tell you it’s your investment. That is utter bullshit – if they get paid for a survey and they pass on some of it to you, there’s no need for you to pay, period. You fill your surveys, you get paid – that’s the model some of the big online writing companies (Demand Media and all that) seem to work – those are not MLM.

But for Speak Asia, you have to send them money first. People seem to say "you need to take risk" – I can tell them please go and put your money behind such companies. I am very suspicious of such companies because there are hundreds that have conned people – if they cannot explain why they need to charge, then it’s likely they are using the money to pay "uplines". Eventually as it becomes too large and growth stagnates, it can involve the promoters-running-away-with-your-money.

How does it work?

First, you pay. Then you get to take two surveys. Each survey takes 20-40 minutes. I tried taking a sample and repeatedly got an errors so I have no idea how complex the questions are – but I’m hearing that the questions are simple.

Now you earn reward points if the survey’s complete. 1 reward point = 1 $, and as a premium member you can earn 20 reward points a week. That’s about Rs. 900, so Rs. 3,600 per month. Since a premium membership takes 10K, you supposedly recover your money in three months (I have NO idea how much work this takes, btw).

But what is the MLM part?

You can refer other people and earn reward points as they do surveys or recruit more people. In a complex system that smells of the kind of debauchery MLM schemes are made of, you only make money if they want you to.

But are they legal?

They’re a registered co. in Singapore. They have a certificate for that. It costs next to nothing to get that certificate, so it’s not of much value. They don’t show any registration details for India.

The legal documents link of the website is utter tripe. None of the legal documents are of the company – they are standard forms available at government organizations, nothing related to the company. This triggers my scam-alert function.

What isn’t entirely legal is the concept of storing money in a wallet, as per RBI rules. If the RBI got strict on them, they will have to shut down India operations immediately (they store "reward points" that are convertible to cash, which according to RBI is a regulated activity).

So what’s the verdict?

Look, I don’t know if it’s a scam. I don’t know a single person who has panelled up and actually got paid. So I don’t know if people get paid. There are complaints on the internet, about as unverifiable as those that say this is a great scheme. And even if people do get paid today, it might just be about to go bust – see, Madoff had this great scam running for years, and he supposedly did pay.

But if you ask me if I would pay and do such a thing, the answer is no. There are other alternatives. There are companies like Demand Media which pay you for writing, without needing to pay. If you can code, design or do other such things, freelance sites like vWorker might help, though there may be far better options in your area of expertise.

A company where I actually know someone that made money from, is Amazon Mechanical Turk. They allow you to take up small pieces of work – transcribing a minute of audio recording, doing some online mapping and so on. You get paid between a few cents and a dollar – for a month or so, someone I know dearly did some work, and got paid. You don’t have to pay to join.

There are many others. In general, my opinion is: if they ask you to pay first, avoid them. Even if they put TV and newspaper ads. That goes for the Amway types as well.

Added 29/4/2011: Also, I note in the comments that people have said they can negotiate ZERO payment in lieu of working for the money (i.e your first few survey earnings go to pay for the subscription). This is the ONLY way to approach this scheme – tell them they take cut the money from your earnings. DO NOT PAY UP FRONT.

Links

Moneylife: Another MLM Scam happening…

(Updated 29/4/2011)

Sucheta Dalal: SpeakAsia still can’t show valid, legal documents.

Vijay at IndiaForums has a brilliant analysis on the entire concept and warns:

  • The Company has changed names and is using an address common to many cos.
  • You only pay for a "Subscription to e-zine" – so in court an argument may not stand.
  • Your initial payment is what pays you back for your surveys. Their money-spin is that you make more money if you bring in more people on board. If that is true, then when you stop hiring new people, your payments will also trickle down, and the number of surveys that you get will also slow down.

(Updated 12/5/2011)

Moneylife has a take on how SpeakAsia made their agents pay crazy amounts for a "bash in Goa", and earned money. When your methods of earning money go into seminars and trips and multi-level downlines, it becomes really dirty. This is a warning sign, folks. Get off, run away. It will end in tears.

(Updated 15/5/2011)

Two Video exposes of Speak Asia, by Aaj Tak and Star News.

  • Sachin says:

    >Thanks for such a good post, some of my friends have already joined it and I was telling the same things to them. In long term all these companies make you fool

    Though I myself have earned $350 in 4 months for reading paid emails from a company (shalomptremail.com) which they closed immediately after I got my payment (lucky me :D)

  • Pushkar says:

    >Hi Deepak, the less I say about Speak Asia, the better it is, though be prepared to get tons of comments on your blog with people saying they are making lot of money posting their phone numbers 🙂

    Btw, you mentioned vworker and that is why I am commenting on your post, I owns http://workmonk.in, we are looking to organized skilled Indian freelancers so Indians can make genuine money

  • Anonymous says:

    >I have got the registration fees waived off. I don't have to pay anything before, but at the end of the month i will pay the monthly fees from the profits i made. So basically, i will be on no profit-no loss for 3 months (to cover the registration fees), after which i will start making money with Speak Asia.

    Your thoughts?

  • Deepak Shenoy says:

    >Sachin: Well done 🙂 You were lucky! Hope they didn't charge you a fee.

    Pushkar: Yes, all the very best to you and hope freelancers get more work at your site as well.

    Anon: Why not? Try it out mate…nothing to lose, in that case. If under no circumstances do you need to pay then it's worthwhile, no?

  • Luvish Satija says:

    >Same thoughts here. But can't stop friends/relatives from joining this. In fact, I'm filling out surveys for one of my not so tech savvy aunt. And she is receiving her payments regularly, at least until now.

    Apparently, speakasia has tons of ads lined up for the ipl season. How are they pulling it off so well? Shouldn't this have caught the attention of some regulators? I'm surprised.

  • Roopali says:

    >I do agree with you Deepak, even I can see most of the people around me who are already members of Speak Asia and also few similar other sites(2-3 more). Infact, one of my friend nearly convinced me to join it , it was then that I thought to investigate about this easy money and I became suspicious. This company is already blacklisted in Singapore.

    But , one question, dont you think if a company with the intentions of running away will do it silently rather than making itself nationally present through regular ads to become more noticable. … why do u think it will waste so much of money creating problems for themselves only???

  • Arpit says:

    >Deepak,

    I wasn't aware that you wrote this commentary before I Googled it out. My sister is a member, and family friend in Agra is full-time into it. Apparently, he has gotten paid twice already and has used all other E-waller 'credit' in the form of further investment. I have used their website (for my sister) and there are so many loopholes that I just couldn't trust their authenticity. On top of it, Labnol.org published a similar commentary earlier and I knew it was a scam brewing.

    Let's work hard to get this scam exposed.

    Arpit

  • rakEsh says:

    >If people really wanna make money online they can but only if they are ready to sweat for it check out peopleperhour.com and the indian site expertpronto.com

  • Hema says:

    >I have been working for 2 months for the so far i have been paid. No company is fraud proof so before investing ur money think twice it is more of gamble u can say. Though i still have my doubts abt the company so i m not investing anymore.My cousin who is a CA was telling me these ppl have certain target of recruiting ppl when they achieve so they wind up and leave. Govt Of India shud look into these kind of online schemes coz if they wont innocent ppl can be fooled easily.

  • Prasad Sovani says:

    >I saw their operations with a member. It was a survey on IPL the other day. & on DND (Do Not Disturb) a few weeks ago.
    Typical payments involved are 10 $ for a panelist, 1.5 or 2 $ for upline etc. SO assume that the company pays out 15-20 $ + their advertisements on TV & profit margin etc. would mean that they would need to sell the surveys at 20 $ per survey. (900 Rs)

    Knowing how shrewd are those who run BCCI, do you think they would pay 900 Rs x 13 Lakh panelists in India = 117 crores for a surveying company?
    Same with TRAI, (They claimed that DND was given to them by TRAI) , would a government body pay out such a huge sum to a company like Speakasia?

    I think they might have created these surveys out of their imagination. There was nothing big deal in the survey on IPL. In fact there were some flaws, I thought.
    SO the money comes from new panelists' upfront payments!

  • Anonymous says:

    >There is one way out. We can ask panelists to POST about the surveys they are getting. Some one can dare that. Which company is Paying for this Survey? What they are asking as questions. this will help people to know about these frauds.

  • Siddhartha Das says:

    >Great post! It seems some of the retailers are also going into the MLM stuff along with their Brick-and-Mortar stores. Here's the brief scoop that I got from a NMART "Associate" today:

    (a) Pay 5500/- today to get 220/- worth of "free" goods every month for the next 48 months

    (b) Get paid 600/- if you get a pair of customers; Get 300/- if the pair you suckered manage to sweet talk a couple more into paying, and the chain goes on. You can get bikes, LCD TVs, Skodas and a hell lot more as people get added (they promise the world as usual)

    (c) You get 11,000/- cash back if you spend more than 72,000 in the next 4 years

    and lots more…makes you feel NMART, and not the government, prints the national currency.

    I have not done any calculation about the feasibility of the entire stuff but I somehow feel the firm is going to go under a few million suckers later. The promoters could pocket a good amount of the initial fee as salary and expenses and declare bankruptcy, and that's that.

  • Anonymous says:

    >Well said, there are lot of such cloud companies loot innocent people. However there are genuine cloud companies also involve in good business practices. Today its difficult to judge who is GENUINE and FRAUD.

    Anand

  • Anonymous says:

    >Want to ask Speak Asia if they have done survery on themselves and what are the results…

  • Anonymous says:

    >You can see a U trurn now!!! They have last extended day for increase in price
    to 20th MAY 2011. What it means… Looto India Looto.

    They want to get maximum money on the name of price increase….people will rush
    to get quick profit. (Easy Money) and they will get caught.

    What a cheating strategy!!! ( They have mentioned that small business owners
    like chai wala, gola wala, shoe maker, subji vendor are also investing 11000…
    what a strategy

    of looting people with limited knowledge)

    They also claims GOA CM is going to visit their GENXBAZAR. Let's see. We have
    sent an email to CM asking his confirmation.

    Is CM of GOA going to Support such a Fraud activity????? Visit following links
    to get proof of this fraud.

    http://www.india-forums.com/forum_posts.asp?TID=1671122&PID=41916013&#41916013
    http://blog.investraction.com/2011/04/speak-asia-scam-or-for-real.html
    http://www.suchetadalal.com/?id=90890ade-4fcf-f284-4da58466269d&base=sections&f
    http://www.aboutindiatoday.gen.in/2011_02_01_archive.html
    http://www.moneylife.in/article/speakasia-still-cant-show-valid-legal-documents/\
    15551.html

  • Anonymous says:

    >Well Thanks everybody for all your valuable comments and all the great work.. I had invested aroung 3 lacs which I have recovered and my greed was pushing me to put more in the company … but I think yes the time has come now.
    This … But now I have also understood why this company has been a success till now.. they have not been sending money to all the people.. instead they have been converting the $ amount into subscription codes which is later used to create more panels.. and that guy would get INR instead from the creators of new account … This way Giving away money to subscribers and creating more subscribers from their own money and then not actually transferring money to their accounts.. After all the subscriber wants to see the cash only .. not bothered about the source. So as I read in a post earlier these guys have a fixed target.. lets see and god bless all the panelists who r yet to recover their money…

  • Anonymous says:

    >Hi Guys,
    Even if you think that this company is a fraud,
    believe that this is going to stay here for at least 7-8 months.
    I have joined it 2 months back (2 accounts) and received my 22K during these 2 months.
    rest of the period I am going to earn money from it.
    Look at the ads on TIO and IPL, so you think this is going to wave off in a hurry? No…
    Think practically.
    There is nothing wrong bt investing 11k and get 52K out of it (at least..)

  • Anonymous says:

    >Yes i agree…i have invested 33000 and have totally recovered my money back….also i have made some profit…And i have no complaints at all regarding Speakasia…If i am earning as i am said then why should i back out?….its as good as taking a risk…and 33000 fraud even if it happens its not a big deal…so way to go SPEAKASIA..its rock…people who dont want to join they only complain about it….we speakasians who earn never say anything bad about it!

  • Anonymous says:

    >Well if the company continued with same model i dont think they can survive..

    But now they are changing there model.
    2 things i belive they can contribute to their growth
    1 Video adds
    2 Its alexa traffic rank which is 78 in india.
    http://www.alexa.com/search?q=speakasiaonline.com&r=home_home&p=bigtop
    3 Direct selling of products which abridge the gap between customer nd companies
    Just think why does facebook commands valuations of 30 billion $…
    I dont wanna run ahead and say accidently they might have created some thing very big..But on the other hand i dont want to be a lackluster if some thing revolutionized has been created..
    But yeah if they continue on paying us on the basis of surveys…Then v should quit

  • MOHIT says:

    >my brother also join this …….but i also wish this to join so that i earn money…this is good way to earn money ..but fuck is that the company is shit ….and stop to refer these company …so jagoo INDIA jagoo……..cause money is harder to earn but easy to spent….:)

  • dtytrivedi says:

    >My dear friends Speak Asia is a scam, no matter how much any one is earning but earning money does not validate the legality of the company. check the link below regarding the hard facts about speak Asia

    http://www.scribd.com/doc/54695794/Speak-Asia-Scam

  • Anonymous says:

    >I noticed someone posted that he got the registration fee waived off..so that its no loss-no gain for about three months..HOW EXACTLY DO YOU GET THE FEE WAIVER??

  • Deepak Shenoy says:

    >Anon: you simply say I WILL NOT PAY YOU ANY MONEY. If they refuse, you show them the middle finger.

  • Suhas says:

    >one question from my side if this is the fraud so why government not taking any action.if it is fully visiable to everyone that this is scam,fraud so stop it.why everyone wasting your own time here to comment on it…..just take final decision and help to close this companies…i also want it…

  • dtytrivedi says:

    >Check this document this will cover majority of reasons which tells speak asia is nothing but big time scam http://www.scribd.com/doc/54695794/Speak-Asia-Scam

  • Speak Asia Fraud says:

    >Bechare Speak Asian apne Money 11,000 to faas jati hain phir apne paise nikaalne ke liye 4 bandee ore pakrate ore bechare kya kar sakte hain

  • Sirisha Manoharan says:

    >I agree few have made money, but only few will…. The money you have made is from ur frnz and relatives whom u have knowingly or unknowingly pushed into this… There will be line marked by this _____ company as their target… where few wud be shut off when it shuts shuts itself.. So you are just making money at the price of other's… We are proving it again that.. indians are easy to be cheated.. and they do anything for money.. Wake up people… your 33k or 50k profit is not a actually a profit or help if u r getting it by helping a company loot lot more…

  • Sirisha Manoharan says:

    >I agree few have made money, but only few will…. The money you have made is from ur frnz and relatives whom u have knowingly or unknowingly pushed into this… There will be line marked by this _____ company as their target… where a large number of victims wud be shut off when it shuts itself.. So you are just making money at the price of other's… We are proving it again that.. indians are easy to be cheated.. and they do anything for money.. Wake up people… your 33k or 50k profit is not a actually a profit or help if u r getting it by helping a company loot lot more…

  • Neeraj says:

    >I cannot understand that why we indians run to our mommy (government) every time we injure ourselves doing something foolhardy.
    If speak asia were to deliver, would all the imbeciles who have become members of this scheme still go to the government or would they start taking pride in themselves and start boasting about their brains?
    If people have the cash and not the common sense, then let them burn their cash. These greedy people do not deserve any support or even sympathy.

  • MISS RS says:

    >Speak Asia has claimed in there Facebook Profile that they have got clearance from RBI and there is nothing to worry. Speak Asia has also requested not to post any Negative News without any proof against Speak Asia. Speak Asia online survey Company has already decided for a Press Conference which will take place in Mumbai on 16 May 2011 at 12.30 PM.

  • Deepak Shenoy says:

    >MISS: I'll believe that when RBI news is confirmed – they have NOT gotten any clearance from RBI as far as I know.

    Please provide links or copies of such proof.

  • KUL BHUSHAN says:

    What ever eligations star tv is having on speak asia the are doinig the same rubish on star pannel survey . IN singapore see there document on web U will come to know the reality……KUK BHUSHAN

  • anon says:

    people who have gotten their money back and planning to make profit should feel ashamed of themselves as they are not victims who became lucky but have become the perpatrators who dont feel guilty for their crime..jst like saying nazi ppl wer poor innocent ppl followin crooked hitler n shud not be punished or accused..
    wake up ppl! if not 4 ur own sake atleast for others..

  • Shailesh says:

    Hi
    As I am registered user of speak asia , but now my trust level is going to down because as i did see many things wrong in news, one time i can forget subscription email but now this is 3rd time revision of subsctiption , can i know why you are doing this kind of things ? because everytime you tell people that price is going to hike due to that you get a many user for registrtaion and when you reach around that date you again revise date … is it true ?
    As I heard that you are delaying payment for 2 months what is the reason behind that ? actuall if you are right in your business then you must release payment every month and if you are wrong then definately you will leave with all the user’s money but I am not bother because I believe in my god.
    If you people will do wrong thing then may be this time you will got a lots of money but that will be not the end of your life, God will give very good punishment, Any way hoping some good things from speakasia.. hope every news will be wrong and all the user will get his money soon.

  • Speak Asia Ravi Kaash says:

    Dear All Speakasians,
    This is India where politicians & bollywood guys have a nexus the amount of money spent & laundered by them is mind boggling. this is india & we have the shame to say we are progressing.
    1- we live in a nation where rice is rs.40/-per kilo & a sim card is free.
    2- pizzas reaches home faster than the ambulance & police.
    3- car loans offered have less interest than education loans.
    4-students with 45% get into elite institutions through the quota system & those with 90% lose out because of merit.
    5-a millionaire can buy a cricket team instead of donating to charity. two ipl teams were auctioned at rs 3300 crores & we are still a poor country where people starve without two square meals.
    6-our footwear is sold in a/c showrooms,but the vegetables that we eat are sold on the footpath.
    7- where everybody wants to be famous ,but nobody wants to follow the righteous path to be famous.
    8- assembly complex buildings get ready within a year, while public transport bridges take several years.
    9- where we make lemon juice with artifical flavours,& dishwash liquids with real lemon.
    10- and finally our politicians ,actors & industrialists get instant bail & are seen enjoying themselves thus making an open mockery of our system.
    11- terrorists who have attacked the parliament,taj hotel,& gunned down some of our best policemen are still enjoying in jail although death sentence for them has been passed by the so called supreme court.
    this is our india its high time we revolt together or else lets be prepared to face our doom along with our children
    All About Speakasia……………..
    1. Speakasia Online Pte Ltd. has been black listed by Singapore
    ’s Registrar of Companies? Is that true?
    No, absolutely false. The company has not been blacklisted ever.
    People have misconstrued the (X) sign ACRA had given on their
    site for delay in filing the annual returns, last year.
    The returns for this FY 10-11 will be filed after the year end
    on 31st May and this status will change.
    2. Who are the promoters of Speakasia Online Pte Ltd.?
    Speak Asia is owned by a holding company – Podium Ring
    International Ltd , registered in BVI , is owned and
    controlled by Ms Harender Kaur and Associates.
    3. Is Speakasiaonline registered under Indian Companies Act also?
    No, Speak Asia is not registered as a company in India as it is
    not a PE ( permanent Establishment ) . The nature of business is
    such that legally the
    need for a PE does not arise as per
    prevailing laws in India. However to effectively support the
    business in India, Speak Asia is now going to open a PE in India
    soon, as has been announced in the press conference by
    CEO India – Manoj Kumar.
    4. Do we have any registered office or contact office of
    Speakasia
    Online in India?
    No , Speak Asia does not have its office or its own contact office
    in India . It’s business model is such that it has vendors for
    call center, Support , Marcom , Technology and Training who have
    respective legal business entities in India .
    5. Who is
    heading Indian operations of Speakasia Online?
    W.e.f 15th May 2011, Mr Manoj Kumar has taken charge as the
    CEO India .
    6. Can Speakasia Online show its financial results of last few
    financial years?
    Annual financial results filed by the company thus far are
    available on ACRA site . We complete full one year of active
    operations on 31st May, 2011 and will file the returns .
    7. Can speakasia online show its tax returns?
    Speak Asia does not collect any money from India and
    thus does not have any bank accounts here . The Collecting
    Representatives
    ( CR ) for ‘Surveys Today’ ezine have paid
    service tax against remittances made to HVP. Over 68Cr of
    Service Tax was paid in the FY 2010-11 for the business done
    in India . Tax returns for the same have been filed with service
    tax deptt .
    8. Who are the clients for whom Speakasia Online
    conduct surveys? Can we have the list of those clients?
    Panel Business operates on the lines of multiple exchanges
    where panel providers are pooled in and the clients can take
    their pick of the panels based on their profile
    requirement
    directly or through brokers. The panel profile can be based on
    demographics and many other parameters. The selected profiled
    panel is picked up like in any other exchange and the work is
    allocated to them. Hence the panels cannot know the clients name
    directly. (e.g. in a stock exchange we buy stocks but at
    the
    time of buying we do not know who is selling those stocks)
    This is a confidential data hence the names have not been
    publically disclosed. However our books of accounts clearly
    show the details of income from panel business and the agencies
    who gave us work . The same is being submitted to concerned Govt
    authorities in India as a proof of income .
    9. What is the business structure for Speakasia Online?
    How is money distributed to panelist?
    Speak Asia is creating a community of consumers which earns
    rewards points by participating in companies activities
    ( e.g -ezine sales , surveys filling , product referrals / sales
    , advertising based surveys , self development training programs )
    on the website and burns those earned reward points for purchase
    of products and services from the website . The company’s
    business model is to make profits from product and service sales
    after providing for the cost of servicing the reward points.
    Speak Asia gets research done ‘on’ and ‘for’ different
    companies , products and services ; panelists earn reward points
    (RP) for participating with their valuable opinions in the surveys
    Effective June- July 2011 , advertisement based revenues will
    start where panelists earn reward points (RP) for watching the
    ads carefully and giving them feedback on the
    same.
    Products are available with Speak Asia at special rates;
    panelists earn through saving on purchase or reselling of products
    The Reward Points thus earned are redeemed through consumption of
    product and services offered by the company . Panelists can buy
    products ( such as mobile, LCD … aptly demonstrated in
    recent
    GenX bazaar at Goa where over 4,00,000 reward points were used by
    just 3000 panelists for buying goods ) . They can also buy
    subscription codes for distribution. The left over reward points
    can be encashed on request made on the website . All cash requests
    are processed through the bank and money is sent from
    Singapore
    to respective banks through TT .
    10. Is any background check of panelist is done by the Speakasia
    Online? What if distributors and franchisee holders are using
    fake names and id?
    Yes , every panelist is required to provide his mobile number and
    bank account details in his profile which are already validated
    by respective agencies who have a system in place .
    11. What is the relationship between franchisee holder/
    distributor and the company? Are they the legally authorised
    represetatives of the Company in India?
    The Distributors have an agreement with HVP Singapore for
    selling subscription of Surveys Today ezines . The subscription
    number / code is used for registering on the SAOL website .The
    distributors are also required to provide basic training to
    Panelists for using SAOL site effectively . These distributors
    are authorized representative of HVP Singapore .
    12. From which country the payment is made to panelists? If it
    is India, then on whose name bank accounts are being operated?
    Payment to the Panelists in India is being made from Singapore
    through bank TT. There is no Bank Account of SAOL in India.
    13. Are the RBI guideline’s regarding to foreign exchange being
    complied, if the payments are made to panelist from outside the
    Country?
    Yes , vide Master Circular No. 01/2010-11 dated 01.07.2011
    issued by RBI in respect of Misc Remitance to India
    14. Can Speakasia online show its legal/incorporation documents?
    Yes , Annexure1 is attached
    15. Subscription money paid by the panelist is deposited into
    whose bank accounts?
    Money is
    deposited in the bank account of the distributors.
    These distributors in turn remit the money to HVP Singapore
    using the services of collection representatives ( CR ) using
    RBI authorized banks .
    16. Has Speakasia online obtained any permission from SEBI to
    run a collective investment scheme,
    which promise assured returns?
    Speak Asia does not run a collective investment scheme. Our panel
    ists promote sales of Surveys Today ezine, work on the website,
    buy & refer products and services. This does not fall into the
    category of collective investment scheme. Thus no such permission
    is required from SEBI.
    17. Are there any legal cases pending against Speakasia Online in
    Singapore, India or any other jurisdiction?What are the status
    of such cases?
    None till date
    18. What recourse does the panelist have if speakasia online
    stops making payment to them?
    The company reserves in its accounts amounts equal to estimated
    payments for the month at the beginning of every month . and has
    offered to put funds equivalent to its 2 months payouts , in an
    escrow account which can be used for making any payment to the
    panelist.
    19. What is a relationship between Haren Technologies and
    Speakasia Online?
    Speak Asia Online was earlier named as Haren Technology Pte Ltd
    which was incorporated on 15/12/2006
    20. Are the same types of surveys conducted by Speakasia Online
    in Singapore also?
    The operations in Singapore are limited and the panel size is
    very small. Thus no surveys are being done there. In July 2011
    we plan to actively acquire new panels in Singapore , Malaysia
    , Indonesia and Philippines for which a new office has already
    been acquired in Singapore.
    21. In which all countries does Speakasia Online have its
    presence?
    Being an online activity the company panelists have registered
    from many countries such as Australia , Singapore , India
    ,
    Malaysia , Phillipines , Indonasia , .. just to name a few .
    Full scale activities of the company have commenced in India
    and other will follow soon .
    22. What all legal actions have been taken by Speakasia Online
    to protect its image in India and all over the world?
    We have approached all legal and governmental authorities in
    India ( such as PMO , Ministries of Finance , Company Affairs,
    Home Affairs and Law enforcement authorities ) through official
    communication for presenting our business , financial and legal
    framework.
    Further ,we have engaged the best of the breed organizations
    in their respective fields such as Management Consulting , PR,
    Legal , Tax compliances , Marketing Communication , Training
    etc .
    23. Is it a fake company?
    No , it is a legal entity registered in Singapore .
    This is validated in annexure 1.
    To your Success
    Ravi Kaash
    FIT
    +91 9918011116
    —————————–

  • Bhushan says:

    Hey there people.I understand all the questions u posted of this page and anyone and everyone with half a brain will ask those questions but that dose not mean that you can put down anyone or any company cause you THINK so.If you want to put the facts find it yourself then speak your mind and now a days more than media people are looking out for ordinary people talking about their experiences good or bad here on the internet and we can take it into consideration cause it’s not filtered by the media and we see what they want us to see we always see just one side and and that side sells well so if u want to help people looking out for help don’t post your thoughts post the facts

  • Rithyma says:

    Join speak asia for free- offer available for limited period
    Just copy this link in your browser
    http://spakasiaoffline.cjb.net/
    then register after registration you will be automatically directed as a valid member of speak asia.

  • rinku says:

    Speakasiaonline Pte. Ltd, Singapore (SAOL) is a unique web 2.0 company that empowers 19 lakh consumers to create and use their collective bargaining power to get unprecedented price advantages in goods and services procured through our portals.
    The only comparable success in India is the unrelated http://www.echoupal.com/ which provided an improvement in the livelihoods of lakhs of ordinary Indian farmers through its portal.
    With 19 lakh strong panelists and promoted from an Indian origin, that seeks to remind the world, that the FUTURE of the 21st Century is ASIAN, with its epicenter in India.
    It’s a misconception that SAOL’s business model is like any other MLM company. Because only a part of our business activity, allows people to earn referral RPs and referring is not a compulsory activity. A person can easily continue participating in company’s marketing related services and continue earning RPs without participating in the referral program. Which is unique to SAOL and that is the exact reason it is not a typical MLM company where enrollment is the way to earn.

  • mp says:

    its democratic nation and anyone can speak watever he/she likes. but pls think twice b4 speaking -ve about anyone/anything. Its a -ve hype created by media against speak asia as a peopoganda and nothing else.
    Had It been a scam or fraud they cud have fled away by now. Spk Asia management has come forward to defend themselves and voluntarily submitted their business papers to Ministry of external affairs / Corporate affairs / RBI & SEBI may be two weeks back. Till nw no authority has raised any question other than media.. why?? Moreover for the last aroud one week even media is silent. They dont have anything to cook further. No panelist has compalined againt company for unfair dealings?? why??
    Keep following Speak Asia.. Its going to Rock.. Wait till 9thy June.. Good Luck

  • santosh arya says:

    I want to known about head office if speak asia in india………….

  • WASIM says:

    it happened very bad for those who invested their money in this company but i heard that so many people earned by this
    http://indiadailytimes.com/2011/08/speak-asia-scam/

  • Satish Kapoor says:

    Finally SPEAKASIAONLINE.COM website not working 07/08/2011
    it means our money go to hell.
    thanks to our Indian Govt. and Electronic Media.
    thanks

  • fraudwatcher says:

    Kochi, Aug. 6:
    The police on Friday carried out searches at nine Amway centres in three districts in Kerala as part of the ongoing drive against money chain activities and cheating through multi-level marketing campaigns.
    The team under Mr J. Jayanath, Superintendent of Police, Wayanad, searched the head office of the Amway at Kochi and also its office at Kottayam. The raids were also conducted in Thiruvananthapuram, Kollam, Thrissur, Kozhikode and Palakkad.
    The police said that cases had been registered against the company at Kannur, Wayanad, and Thrissur following complaints of cheating.
    Meanwhile, Amway in a statement said the police action has come as ‘rude shock’ and surprise. A fair investigation demands that the company be notified about the nature of complaint received for such a sweeping inquiry, it said.
    The multi-level marketing and direct selling company stated that it had been receiving complaints from distributors over the past one month that they were being called to police stations and being ‘harassed’ to give complaints against the company. This is another step in the direction of ‘high handedness’ of some police officials, the statement said.
    Source:www.thehindubusinessline.com