Speakasia?

a bit of negative news provides more publicity - this appears to be

the new strategy of media managing people at the speakasia !!

there was a news item at star news (hindi) late this night (11th May).

they have scrolling news suggesting that speakasia could be a scam..

AND the news item enlists the pros of joining at speakasia. FINALLY

the newscaster just has a warning which tells viewers to take care

while joining such schemes !!
 
There was a special coverage on the functioning of SpeakAsia on Star News yesterday. The facts they pulled up made me believe that this is a scam.

1. They don't have any registration as a company in India.

2. They don't have any office in India, just a call-center.

3. The business is managed from Singapore. There had been previous cases in India where similar companies from Singapore scammed money from Indian people.

4. The companies they advertise as their "survey partners" i.e. those companies which pay them for conducting surveys, have declined any relation with the company.

5. The concerned official of SpeakAsia in India couldn't answer how his company made enough profit to pay its members.

EDIT: Missed the previous posts.
 
Two of my friends just enrolled into it. They tried convincing me saying that they were earning a good deal of money and blah blah. How long is it going it work? was my question. I backed out and invested my money in stocks instead.
 
simple questions that should arise.

1. Why are you so much interested in getting me enrolled..?

simply because my registration fee pays for your commission? Just ask me for it and I would loan you as a friend.

2. Where does the money come from to pay all the surveyors?? How exactly do the make profit?

People may not care where it comes from as long as they are not proven that it is the people's money which is paid to other people. The people at the end stage on the chain at any instance will be in 100% loss.. The same loss which you have been enjoying as fruits.

3. Can you take up the responsibility to pay us back just incase they wrap up the business and fly with our money ??

My mom and a bunch of uncles her age got into a big investment scheme about 2 decades ago. Now none of them intended to dupe anybody. But they all got duped.

Now my mom felts guilty and has been paying all the inverters back whatever they had paid back then ever since they got duped. She was not liable to pay anybody back. But that is what an average person has to go through when he/she tries to be an agent for an easy buck.

If you dont have the guts to handle the guilt then you should not get into luring people by promising big picture. And if you can do away with the guilt then you are already cold enough to plan your own Pyramid....would encourage you to start your own and make it big.!!!!
 
This SpeakAsia has turned into a virus. The IPL ads did seem to have had an effect. I learnt just today that a group in my office recently enrolled into this. They were talking in excited tones. I was shocked. Someone passed a comment saying it was a scam. They just nodded, and after that chap left, were like "grapes are sour, he is cribbing because he isn't getting it. Loser"
 
Well Guys, ur friends/relatives whoever will try to lure you have one agenda in mind,

Make that chain happen so somehow they get referral & recover 15k whatever they have invested.
 
I have friends (students) on my friend list pinging me on chat everyother day asking "Are you doing speakasia?"

Many of them have "Working at speakasia" in their info. :mad:

Talk about exhibiting your foolishness!
 
raksrules said:
Even in my company there are many people who have registered and advocate others to do so. It has spread to IT industry too.
Click to expand...
IT Industry was jacked in south India by something called Quest Net, They were giving some Gold coins & watches, Horrible spread in Karnakata & Andhra. It was again Singapore based company.

God knows what happened to them.
 
Speakasia Claim: Invest Rs. 11,000/- Earn Rs. 48,000/- (Profit is 37,000/-)

Currently safest investments are:

Investment in Government Securities such as: PPF, Post Office deposits

and then Bank Fixed Deposit

Now suppose you invest Rs. 11,000/- @ 8.75% in ICICI Bank Fixed Deposit for 1,096 days (3 Years and One Day) then you may get total Rs. 14,147.53 at end of Maturity Period. So the profit will be Rs. 3,147.53.

Now the question is: How many years required to generate return of Rs. 37,000/- (48,000.00 - 11,000.00) from Investment of Rs. 11,000/- today @ 8.75% Interest.

The answer is: 17.565 Years or 6411.225 days and the Total amount will be 48,003.48 including principal amount of Rs. 11,000/-; Profit 37,003.48

It is not possible to generate Rs. 37,003.48 from Normal channel of investments if invested for One Year.

And

Most risky Investment is shares (investment in Capital market directly; Not Mutual Funds)

Return on shares are far more difficult then simple investments because it requires intensive study, experience, money* and time horizon.
 
MrRIG said:
Currently safest investments are:

Investment in Government Securities such as: PPF, Post Office deposits

and then Bank Fixed Deposit

Now suppose you invest Rs. 11,000/- @ 8.75% in ICICI Bank Fixed Deposit for 1,096 days (3 Years and One Day) then you may get total Rs. 14,147.53 at end of Maturity Period. So the profit will be Rs. 3,147.53.

Now the question is: How many years required to generate return of Rs. 30,000/- from Investment of Rs. 11,000/- today @ 8.75% Interest.

The answer is: 15.7 Years or 5,730.50 days and the Total amount will be 41,051.80 including principal amount of Rs. 11,000/-; Profit 30,051.80

It is not possible to generate Rs. 30,000/- from Normal channel of investments.

And

Most risky Investment is shares (investment in Capital market directly; Not Mutual Funds)

Return on shares are far more difficult then simple investments because it requires intensive study, experience, money* and time horizon.
Click to expand...
point being ?
 
Praks said:
IT Industry was jacked in south India by something called Quest Net, They were giving some Gold coins & watches, Horrible spread in Karnakata & Andhra. It was again Singapore based company.

God knows what happened to them.
Click to expand...
Ask my heart :(
 
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