CID of Andhra Pradesh is contemplating to seek custody of Mr Tarak Bajpai, the Chief Operating Officer of speakasiaonline to interrogate him. Mr Tarak was detained by Mumbai police on Friday at Indore, Madhya Pradesh for his role in the alleged money circulation scheme.
The CID has already found that speakasiaonline has a strong base in Andhra Pradesh with more than 30,000 members for its pyramid scheme.
Investigations led by Mr Jitender, Inspector General of Police of CID, revealed several European connections of the company in the scam. The fraudulent company has already siphoned out Rs. 461 crore from India and Rs. 8 crore alone to ActieIndex of Netherlands. According to the CID, most of the money was sent to Singapore where Ms Harender Kaur, CEO of the company lives. The CID has frozen Rs. 134 crore in the Bank accounts of speakasia in Mumbai after the case was booked.