Saturday, July 30, 2011

Online survey firm 'dupes' investors of Rs 1,300 crore - The Times of India

Online survey firm 'dupes' investors of Rs 1,300 crore - The Times of India: "In an operation that unfolded in Indore, the economics offences wing of the Mumbai police arrested the chief operating officer of SpeakAsia-a Singapore-based pyramid-marketing company-in the wee hours of Friday for allegedly perpetrating a nation-wide scam amounting to Rs 1,320 crore. Three other senior members of the company were also arrested but not the CEO, who the police say, is hiding in Dubai. The firm, which claims to have 12 lakh clients in India, has also been accused of transferring more than Rs 700 crore to Singapore."

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