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Speak Asia scam: EOW quizzes actor Rajpal Yadav

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Press Trust of India Mumbai

Yadav was quizzed for at least an hour by city police's Economic Offence Wing (EOW), probing the Rs 1,300 crore scam on Monday, a police officer said.

Investigators suspect that absconding Speak Asia official Ram Niwas Pal and his brother Ram Sumrin Pal, allegedly invested Rs 2.5 crore of the scam money in the small-budget comedy film "Jiyo Raja Phantom" starring Yadav.

"Yadav's statement has been recorded as we suspect that the movie was financed by Pal brothers, besides other financiers," the officer said.

Speak Asia had promised lucrative returns through a multi-marketing pyramid model. The firm allegedly duped over 12 lakh investors, also called as panelists to the tune of Rs 1300 crore, by assuring them commission if they introduced new members.

 

The city police uncovered the scam last year and arrested Speak Asia's chief operating officer in India Tarak Bajpai, Financial Manager Ravi Khanna, web portal technicians -- Rajeev Malhotra and Rais Khan-- and panelist Deepankar Sarkar among others.

  

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First Published: Oct 18 2012 | 9:45 PM IST

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