If reports of Economic Offence Wing of Mumbai are to be believed this MLM scam could be the biggest MLM scam in the history of network marketing in India. Economic Offence Wing of Mumbai in the recent statement said that Speak Asia fraud is of Rs.2300-2400 crore and the value of the reward points is around Rs30000 crore.
Speak Asia collected more than Rs.2300 with a period of 18 months and the current liability is around Rs.30,000 crore.
Some panelist approached Supreme court, where final verdict is yet to come.
“The SFIO report should be out in December. The ministry (MCA) feels the culprits will be nailed after that,” said a senior MCA official, who did not want to be identified.