MLM News

NetworkingEye.com: MLM News, MLM News in Hindi, MLM business, MLM Companies, Scam Companies

  • Home
  • हिन्दी MLM News
  • Scam Companies
  • Guest Post
  • Submit An Article
  • Submit Press Release
  • Advertise
  • Contact

Speak Asia advisor confessed that business plan was a Ponzi scheme

By Ak Sharma | Published on 05/12/2019

Rate this News

Mumbai : Speak Asia Financial advisor, Sanjeev Dandona confessed that Speak Asia was indeed running a ponzi Scheme. and the plan was based on a ponzi scheme. Sanjeev Dandona was financial advisor to Speak Asia and he was the main man behind the transfer of money from India to Singapore.

Like we all know what is a ponzi scheme, in a ponzi scheme new people are enrolled to pay people who join at the start and ponzi scheme comes to an end when the enrolling of new people becomes slow.

In 2002, Mr Dandona was charge-sheeted by the Central Bureau of Investigation (CBI) for allegedly issuing forged permits to new auto-rickshaws in New Delhi. In that case, High Court dismissed Mr Dandona’s petition saying, “Prima facie, his involvement was deep-rooted.

Nayan Khandor, a Web designer and director of Dadar (central Mumbai)-based Brand Salon also confessed that Speak Asia was running a ponzi scheme which was created here in Mumbai not in Singapore.

Now due to the confession of  Sanjeev Dandona and Nayan Khandor, Speak Asia is now into deep trouble. One by one people from the management are deserting. People are not getting any solution to the investment they made.

Our Take: Some time blind faith could be fatal. We believe that whole investigation should be put in a such way where they should look into a way of returning money to the investors. 

  • Tweet
  • WhatsApp
  • More
  • Email
  • Print
  • Telegram

Related

Filed Under: MLM News, Speak Asia

SUBSCRIBE TO Networking Eye - MLM News

Sign up for our newsletter and receive news, updates, and the latest alerts.

Comments

  1. Dinesh Mlm says

    14/10/2011 at 11:44 AM

    join nmart only this company is legal company and u can earn lifetime

    Reply

Leave a Reply Cancel reply

LATEST NEWS

  • Vestige To Launch PETA certified 100% Vegan Assure Natural Range
  • Ranga Reddy: Multi-level marketing fraudsters loot 15 lakh from woman
  • Enforcement Directorate (ED) attaches assets of ‘bike bot’ MLM Ponzi Company worth 103 crores
  • Indian Direct Selling/MLM Companies rises as top performer among Asia Pacific Companies
  • New Consumer Protection Act of 2019 to Protect Online Customers

TRENDING TODAY

  • QNet Is A scam In India or Legit?
    QNet Is A scam In India or Legit?
  • Indian Cyber Crime Toll-free Number to Report Online Frauds
    Indian Cyber Crime Toll-free Number to Report Online Frauds
  • Top MLM Companies of Network Marketing in India
    Top MLM Companies of Network Marketing in India
  • SCAM Companies New Updated list
    SCAM Companies New Updated list
  • The Status of Network Marketing/MLM/Direct Selling in India
    The Status of Network Marketing/MLM/Direct Selling in India
  • list of top mlm companies in india
    list of top mlm companies in india
  • The Indian Direct Selling Association - IDSA
    The Indian Direct Selling Association - IDSA
  • The Difference Between Linear Income and Residual Income
    The Difference Between Linear Income and Residual Income
  • Top 100 Global MLM companies in the world
    Top 100 Global MLM companies in the world
  • Top 400 Earners Network Marketing (based on earnings per month)
    Top 400 Earners Network Marketing (based on earnings per month)

COMMENTS

  • Sekhar Chetry on SCAM Companies New Updated list
  • KS on SCAM Companies New Updated list
  • Saad on SCAM Companies New Updated list
  • kiran on QNet Is A scam In India or Legit?
  • bhavin b rathod on Top MLM Companies of Network Marketing in India

Copyright © 2014–2021 · NetworkingEye.com

About Us · Privacy Policy · Cocky Policy · Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.