The advertisements and tall claims has put the online survey company, Speak Asia, under the government scanner.
The company has so far collected around Rs.800 crore from over million people assuring them that they will earn four folds of their investments in a year’s time.
Speak Asia website says that it has a presences in Singapore, Vietnam, Malaysia, Indonesia, and India.
To be a member of this online survey venture you need be a subscribed member by paying Rs.11, 000. The company offers a minimum return of Rs. 48,000 in 12 months for those who take part in surveys. Subscribers have to fill 96 online surveys for which they are given reward points with a value of Rs. 500 per survey.
Here is a catch; the company says that actual cash that a member or a subscriber get back is only about Rs. 8000 and the remaining Rs. 40,000 will have to be spent either buying new subscriptions or in buying products.
So the current option available to the members is to buy products from a vague consumer durables company called Yug which is yet to become operational. Surprisingly, Yug, is the sister concern of Speak Asia Online.
Speak Asia plans a joint venture up with several more companies.
Reports indicate that several investigating agencies like RBI, EOW and SEBI have put the company under scanner.
Now, the fate and money of million of people depends upon the report by the concerned authorities.
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