Mumbai: A chartered accountant was arrested here on Thursday in connection with his alleged role in the Singapore-based online survey company SpeakAsia’s multi-level marketing scam taking the total number of arrests in the case to six, police said.
“Acting on a tip off, the accused Santosh Dandona, a chartered accountant and financial advisor to the controversial company, was today picked up from the city,” Rajvardhan Sinha, Additional Police Commissioner (EOW), said.Online GST Certification Course by TaxGuru & MSME- Click here to Join
“Dandona, who was subsequently arrested, had started a financial company called Critanz Management Pvt Ltd that was used to transfer money of SpeakAsia outside India,” said Sinha.
The city police earlier had arrested SpeakAsia’s Chief Operating Officer in India (COO) Tarak Bajpai, Financial Manager Ravi Khanna, the web portal’s technicians, Rajeev Malhotra and Rais Khan and panelist Deepankar Sarkar.
SpeakAsia 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, police said.