Speak Asia Online Survey Scam

The Speak Asia scam was an alleged Ponzi-cum-pyramid scheme that operated across India between 2010 and 2011. Run by a Singapore-based firm initially incorporated as Haren Technology Pte Ltd and later rebranded as Speak Asia Online Pte Ltd, the company targeted millions of participants with promises of high earnings. Investigators alleged that the entity conducted no genuine business and operated purely as a multi-level marketing fraud, using funds from new participants to pay older members.

Participants were induced to pay an annual subscription fee, typically ranging between ₹5,000 and ₹11,000, to become panellists. In exchange, they were promised steady monthly earnings for filling out online surveys, as well as additional commissions for enrolling new members into the network. Authorities later calculated that the scheme allegedly defrauded around 2.4 million individuals out of an estimated amount between ₹2,200 crore and ₹2,276 crore.

The operation unravelled in 2011 when users began lodging complaints regarding delayed payouts, the absence of actual survey work, and difficulties in withdrawing their funds. Multiple agencies, including the Reserve Bank of India, the Enforcement Directorate, and the Serious Fraud Investigation Office, launched probes. Investigators alleged that funds were illicitly channelled out of the country through a master franchise, prompting law enforcement to freeze accounts, attach assets, and file chargesheets against the promoters and their associates.

Not yet reported: The final judicial verdicts and court outcomes for the accused promoters are not reported.