Over the past few months, much has been made of the lack of filing against charges by any authority against Speak Asia. For the most part, this has been seen as conclusive evidence by Speak Asia members that the company is wholly innocent and that the pyramid business model the company uses is unquestionably legal.That illusion was shattered today with the news that the Enforcement Directorate (ED) have formally charged Speak Asia with money laundering.
Details are currently scarce and with the Supreme Court ordered mediation process between Speak Asia and its panelists set to take place tomorrow, you can be rest assured the company will do its best to diminish the gravity of the charges laid out against it.
The ED charge is interesting because last we heard the ED, along with the Ministry of Corporate Affairs (MCA) were waiting on a report by the MCA’s Serious Frauds Investigation Office (SFIO) due out in December.
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Detailed news link: here
