CID raided Speak Asia Online franchise at Vijayawada, Andhra Pradesh
VIJAYAWADA: A CID team lead by DSP YV Ramana Kumar raided the houses of D Srinivasa Reddy and LVA Swamy who are the owners of Speak Asia Online Limited franchisees at Vijaywada on Sunday. During the investigation CID team seized laptops, desktop computers, bank passbooks and all other incriminating documents pertaining to the activities of the Speak Asia Online.
Police raided houses of the franchisees after complains were registered by the panelist of Speak Asia. As per CID there are 30,000 active members at Vijayawada who are enrolled with Speak Asia. The main reason for the complain was non-payment to the panelist. Some panelist even argued with the franchisees owners that when money has already been received by Speak Asia then why company is taking so much of time to open bank accounts in India. Though there was no official reply from the management of Speak Asia online on this issue.
The names of these franchise owners were appearing in the website, but after the news, their names have been removed from the Speak Asia website.
Though police cannot take any direct action on Speak Asia as it is not registered in India but as per Indian cyber law, police can file a case against the Speak Asia Online’s website under cyber fraud. Already a case has been filed against Speak Asia at Mumbai High Court by the investors of Speak Asia.