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SFIO Seeking Advice From MCA & Law Ministry On Speak Asia Probe

Written by Ak Sharma

Now it is be more than one year, since Speak Asia stopped their operations in India after their alleged role of scamming people. Soon a report on Speak Asia will be out.  The Serious Fraud Investigation Office (SFIO), probing a fraud of the multi-level online advertising company SpeakAsia, has actually referred the matter to the Corporate Affairs and Law ministries for their guidance.

SFIO, a multi-disciplinary team under the Ministry of Corporate Affairs (MCA), has the requirement to probe major financial frauds at the companies.

“The situation is pending investigation and has been referred to the Ministry of Corporate Affairs/Ministry of Law and Justice on a legal concern,” SFIO pointed out in reply to a Right to Information (RTI) inquiry. Having said that, specific information were not revealed as the investigations are on.

All ongoing SFIO examinations are exempt from being covered under the RTI Act, 2005, the agency pointed out.

An alleged fiscal fraud by Singapore-based SpeakAsia happened last last year, after which the MCA had actually routed SFIO to check into the issue.

In coming days The SFIO is also thinking of taking help from CBI.

Though matter is also pending with high as well as supreme court. Finally when this report will out and opened to the public domain, it will surely make things faster.

Lately people who joined SpeakAsia at the end at very worried about their invested money and the only hope they are getting from uplines is to wait for more time.

In some online forums Speak Asia panelists, are also planning to file FIR in their respective towns because their downlines have put them into lot of tension and pressure to recover their hard earned money.

Anil Kumar

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