different places. The promoters of the company, including Ram Simra Pal, used to travel all over the country and address meetings and seminars of their agents and investors in luxury hotels all over India. They acted like big tycoons having a lavish lifestyle to encourage the agents to bring more and more innocent people in the net.
"On one such occasion, the promoters held a meeting of the investors in Goa. They hired a special train to Goa forthe investors and an exclusive portion of beach of a resort was booked.
"The open invitation to attend this meeting was given on the portal of the company and this was attended by thousands of people and their expenses were borne by the company," said Yadav.
In order to entertain the investors, leading stars of Bollywood performed in this programme. "There is no doubt that booking a special train and performances by film stars for a big bash at a beach resort in Goa was done to attract more eyeballs and therefore, hook more gullible people, who might choose to join the MLM scheme," he said.
The company had duped over 24 lakh investors. The amount of scam has gone up to Rs 2,276 crores. A number of cases were registered in different states. Thereafter, all the senior office bearers of the companies went into hiding.
As per DCP Kumar Gyanesh, after the registration of criminal cases against the company in June 2011, 'Speak Asia' shut down its business, but its Directors and office bearers handled the internet portal and told investors that no case has been made out against the firm and the firm will be restarted soon.
Despite vehemently denying the fact that Speak Asia was not just making up its surveys and relying on new membership fees to generate profit, it has come to light that Speak Asia's surveys were indeed fake and were just an eye wash, he said.
The Economic Offences Wing (EOW) Mumbai is investigating maximum number of cases of 'Speak Asia' fraud case since the last 28 months. It is reported that more than 210 bank accounts containing over Rs 142 crores have been frozen. Besides this, another 150 bank accounts are reportedly under investigation over suspicion of funds being transferred in the scam, said Gyanesh.
After escape from Mumbai, Ram Sumiran Pal settled in Dehradun with his in-laws. He invested the ill gotten money in real estate and started construction projects in