Hi Prateek, First I thank yu for your research and good piece of information about these type of bogus companies. It is the fact with most of the multilevel and network marketing companies. There was similar discussion was going on in another group. With your permission, I am going to copy your mail to that group also so that many people will come to know about this in a way.
On 5/14/11, prateek aggarwal <prateekagarwa...@gmail.com> wrote: > Hi folks, > Because I’ve been noticing a number of access Indians investing and > using the online survey company speak asia, I thought to write you > this mail to inform that you may be trapped, hence you’re required to > stay cautious before investing anymore. > There are clear evidences to demonstrate that the company is > conducting a scam with more then a million customers in India now, > and because I’m suspecting some of our friends here may also get > affected, i thought to write you this mail to convey a friendly advise > of not using this company anymore. > In this email, I’ve written my foundings after a bit of research that > I’ve conducted about this company, because a few of my friends have > been asking me to do the same. > All those who are associated with speak asia or planning to get > associated are requested to please read this mail till the end before > you decide anything further. > Please, read this mail before getting purple on me, and even in that > case, i’m posting what I’ve observed, and it should be undoubtedly > clear that I have no direct or indirect connection or rivalry with > this company. Its only a sincere attempt to advise my friends on this > list that they are required to stay careful before dribbling away > their hard money. > > Also, this mail may get a bit long, so if you believe this is not of > your interest, please get away. > > > Imagine if there were an online business where you could earn a very > handsome and recurring income simply by spending 10-15 minutes per > week. To qualify, > all you need is a computer with an Internet connection and some basic > knowledge of the English language. Many of my friends here in VI > community too are opted or wanting to opt the scheme. > > The exact plan is something like this. You give me $200 as an > enrollment fee and in return, I will pay you $40 per month for the > next 12 months. You make > a neat profit of $280 with no effort but there’s something more. If > you can convince some of your friends to join the program, you get a > commission on > their earnings as well and so on. > > The company in question is Speak Asia Online – they’re running an > online survey business In India on a similar model and have been > massively successful > in their mission so far. > > I’ve been receiving emails from the company from a few months asking > me to join their survey business, but i’ve never took attention at > that time. It was only last month, after talking to some people, did I > realize how popular they have become among households in India mostly > through word-of-marketing. > > One of Speak Asia’s franchisee suggested on phone that they have more > than a million members in India, that’s 1% of India’s total Internet > population, and > the above > > the advertisement and marketing campaign of the company is on its > rise, and you can notice the words about speak asia in different news > papers, TV channels, social media websites and other mediums. > > So, is the company a true player? Is it a legit or scam? > Because some people have been sending me emails and asking about it, I > thought to do a bit of research on this, and following is what I found > out: > > > Number 1: > The company’s website – speakasiaonline.com – suggests that they are > based in Singapore and the contact address listed on the website seems > to match > with the Whois information of their website domain. They claim to have a > certificate from ACRA > (Singapore’s compliance authority) but a quick search > suggests the company is no longer eligible for receiving the > “Certificate of Compliance.” > > The records, publicly available at > acra.gov.sg, > also suggest that the company “SPEAKASIA ONLINE PTE. LTD.” was > previously known as “HAREN TECHNOLOGY PTE. LTD.” and “PAN AUTOMOTIVES > PTE. LTD.” but little > do we know about their past operations. > > #2.: > The company says their revenues will exceed $115m this year but if > you Google the names of their top executives – Harendar Kaur (CEO) and > Tarak Bajpai > (India head) – there’s absolutely no information. That’s very > surprising especially when these people are handling a successful and > global business of > this scale. > > #3.: > In order to become a member of Speak Asia Online, all you need is a > bank account and the company will directly transfer monthly revenues > to your bank > account from United Overseas Bank (UOB) Singapore. They require no > documentation or proofs even when we have such strict banking rules in > India around > foreign transactions. > > #4.: > The USD:INR currency exchange rate fluctuates around the INR 45 mark > but Speak Asia makes all payments at INR 50. That’s 10% above the > market price > and no sensible for-profit company in the world would be willing to > lose money like that. > > #5.: > Speak Asia representatives told me over phone that they are > distributing millions of dollars every week to their Indian > subscribers, still the company has > no office in India, there’s no support center to assist customers and > above all, Speak Asia Online is not even a registered business in > India. > > Number 6.: > The background of the company looks really interesting for this matter. > Company Background: – Speak Asia Online Pte Ltd. > > Formerly named: – Haren Technology. > > Formerly named: -PAN Automotives. > > Formerly named: – HAREN VENTURES. > > Formerly named: – HAREN AUTO PARTS. (F.K.A.) > > Formerly named: – HAREN MULTICONSULT TRADE SERVICES. (F.K.A.) > > The point is, Why they’ve been keep changing companies? > > Number7: > Speak Asia mentions their Singapore contact address as “10 Ubi > Crescent, #07-68, Ubi Techpark, Singapore 408564.” A quick search on > Google suggests > that several companies in Singapore are sharing that office space. > My simple google search has brought the following companies who are > using the same address for their office as speak asia: > Valves.Com > SBS Consulting. > > this likely means that the address is used by a third party to > register companies to, and no real business operates there. > > Number 8: > The company has a franchisee model so at the face of it you are not > paying anything directly to the company “Speak Asia” and it goes in > the name of the > franchise (bank account) and who further pass that money to someone in > Mumbai and all get to keep a certain % out of it. If its such a big > company they > should provide an option to pay online through credit card directly to > them instead of making so many layers of people accepting payments on > companies > behalf and would have helped them with instant signups. > > Number 9: > They claim they are established in Singapore / Malaysia / Indonesia > but after doing a lot of research I didnt find enough evidence that > proves that they > are getting enough traffic from any of these countries to prove their > claim. They are mainly in India and Bangladesh only. > > Number 10: > They claim that bharti airtell, ICICI bank, bata, etc are amongst > their clients but according to star news report at > http://www.youtube.com/watch?v=93VMHoiEa90 > > its just a lie, and bharti as well as ICICI already confirmed that > they have no association with this company. > > So if you are part of Speak Asia or newly invested 11000/- so, for > the first three month it is actually just paying out your own money > back. So for the > company there is always a buffer time of 3 months for the people to > even realize how they have been gamed / duped. To keep the ship > sailing they need to > double their signups every quarter which is luckily happening for > them, So that they can pay the earlier and current customers from that > money and keep > some money for advertisement to maintain their signup targets. > > So what will happen once the company falls short of their target of > adding more people to its subscribers list? > > The first thing will be that there will be a rate cut in the surveys. > Secondly we see less frequent surveys and at the end there will be > hardly any surveys. > The company is liable to pay only when you participate and fill the > survey and as an user you can’t sue the company as they are not liable > to pay anything > to you in the event there are no surveys. The initial 11,000 (which is > soon going to be 15000) is towards the E-Zine so you continue to get > that E-Zine. > > What happens when the company stops Surveys or doesn’t pay? > > Well nothing can be done due to the following reasons: > > • The main company is registered in Singapore so to recover 11000 > hardly anyone will travel to Singapore to file a case against them in > Singapore Court. > • The company is selling you E-Zine and you have paid 11000 towards > that and not towards the Survey. Your payment of Rs.1000 / 2 surveys > is toward the Surveys > you fill. So on that ground too the company is safe. > • Let’s assume something goes wrong and the Indian authorities goes > after this whole scheme and in that case the company can easily bail > themselves out > saying they have not received any money from them cause none of the > payments is made in their name rather it’s in the name of the > Franchisee who are paid > a certain % to forward that to the main distributor and who further > pass it to someone else. So the person you can only catch is the > person to whom you > made the payment. But sadly the problem is that even that person is > the victim of this whole scheme. Unhappy > > So how can someone run such a huge thing without anyone noticing it? > > This is India and anything is possible. We easily believe in such > schemes and are really fond of such online money making schemes. > All of us want to earn a quick money, and this is exactly what these > companies use in filling their accounts and robbing ours. > > A little more of my search to google has given some results where > people are openly discussing their ideas and opinions about this site: > > http://www.suchetadalal.com/?id=a60a3ffc-a8bd-0368-492e822e450e&base=sub_sections_content&f&t=Home+Trade%27s+%27starry%27+gameplan > > http://blog.investraction.com/2011/04/speak-asia-scam-or-for-real.html > http://www.suchetadalal.com/?id=90890ade-4fcf-f284-4da58466269d&base=sections&f > http://www.aboutindiatoday.gen.in/2011_02_01_archive.html > http://www.moneylife.in/article/speakasia-still-cant-show-valid-legal-documents/15551.html > > till the date everyone is getting paid from SpeakAsiaonline.com but no > one who care what the actual reality behind it. You may be duped > anytime, so as a well wisher and friend, I advise you to keep yourself > away for such scam businesses. There’s nothing like simple and quick > money in the world, and noone has right to fish your tough money that > you’ve earned after a lot of efforts and hard work. > > There have been many such examples of people who got robbed by > companies like these, so please, for god sake, stay careful. > The choice is yours, I just wanted to share what I have observed and fount > out. > Regards, > Prateek agarwal. > Director, > Daedal technovations pvt. Ltd. > www.daedaltechnovations.com > We bring the change we wish to see! > > Website: > www.prateekagarwal.webs.com > | > www.prateekagarwal.tk > > Search for old postings at: > http://www.mail-archive.com/accessindia@accessindia.org.in/ > > To unsubscribe send a message to > accessindia-requ...@accessindia.org.in > with the subject unsubscribe. > > To change your subscription to digest mode or make any other changes, please > visit the list home page at > http://accessindia.org.in/mailman/listinfo/accessindia_accessindia.org.in > > -- "Strength is life, weakness is death" Best Regards Mohith B. P. Personal ID: bpmohith....@gmail.com Mobile: +919902361549 Skype: mohith.ckm Search for old postings at: http://www.mail-archive.com/accessindia@accessindia.org.in/ To unsubscribe send a message to accessindia-requ...@accessindia.org.in with the subject unsubscribe. 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