Mastermind of ‘Speak Asia’ fraud arrested

In a major catch, Ram Sumiran Pal, an alleged mastermind of the over `2,200-crore Speak Asia online marketing firm scam in which around 24 lakh gullible Indians were duped has been arrested by Delhi police.

Pal, 37, of Shahajanpur in UP was on the run for 28 months, and arrested on Monday from Connaught Place after months of sustained investigation.

Pal and his brother Ram Niwas Pal also had Bollywood links; leading stars would perform at lavish functions held by them for investors and agents to lure more people. They then siphoned off the investors’ money.

The Pal brothers became part of the top management of multilevel marketing companies registered abroad.

Speak Asia, registered in Singapore, was introduced in India in early 2010. It was an online survey marketing company which sold web subscription for `11,000. In return the investor had to fill survey forms, later found fake, for certain MNCs for promised annual payment of `52,000. After paying few initial investors, Speak Asia wrapped up its operation in India around mid-2011.

— PTI Rescue work is carried out after a building collapsed at Adugodi area in Bengaluru on Tuesday. Five persons were killed and two others injured when a dilapidated house collapsed and brought down some other adjoining ramshackle residential units.