The police said that Speak Asia created a huge network of people who joined it through internet after paying Rs11,000. The company assured all the investors Rs52,000 annually in exchange for conducting online surveys for the website.
"This could be a multi-crore fraud wherein unsuspecting investors were offered lucrative returns and were duped by the company. The whole operation seems to be dubious and it's important to keep checks on such companies," said an economic offences wing (EOW) officer.
Police sources said that the crime branch has directed the cyber crime cell to keep tab on other such websites and prepare a report accordingly. The idea is to identify such companies and see how their operations can be investigated. The crime branch has already come across a few such dubious companies, sources said.
"We have asked the cyber crime cell to monitor websites of companies that function like Speak Asia. Once we identify the companies, we will get details of their investors and contact them. If it is found that the companies have been using fraudulent means to make money, we can take action against them and any potential scam can be nipped in the bud," said joint commissioner of police, crime, Himanshu Roy.
Last Friday, the EOW arrested five people, including the chief operating officer of Speak Asia, on charges of cheating and criminal conspiracy.