36-year-old Satish Pal was arrested yesterday from his hideout at Najafgarh Road after police learnt about him during the interrogation of Ram, who was held on Monday. Pal is a close associate of Ram (promoter of Speak Asia) and remained active in the scam, police said.
"He was apprehended with the help of clues obtained from Ram Sumiran Pal. His active role in the scam was confirmed by Mumbai Police, who has obtained his transfer warrants on the basis of the information provided," said Additional Commissioner of Police (Crime) Ravindra Yadav.
During interrogation, police learnt that Satish is a commerce graduate from Delhi University. He worked in different institutions in Delhi and in 2007 shifted to Mumbai. There, he came into contact of Ram Sumiran and his brother Ram Niwas Pal and joined the company namely Seven Rings.
"After conducting his interrogation and further confirmation of his role from Mumbai Police, it has been found that he remained active associate of Pal brothers, promoters of Speak Asia and associates companies.
"In 2011, when the promoters wrapped up the companies after cheating about Rs 2200 crore from more than 24 lakh gullible Indian, he also escaped from Mumbai and hid himself in Najafgarh. To evade police arrest, he went to Malaysia thrice," said Yadav.
From the money he earned from the scam in 2012, he further purchased a company namely Web Excel Solutions registered in Malaysia, and on the basis of the profile of that company, he succeeded in obtaining work permit in Malaysia, police said.
In 2012, Satish along with his family shifted to Malaysia, and started a business of restaurant in Kuala Lumpur. He rented a flat and created a safe hideout for his associates, who were at large in India.
He remained in constant contact with the prominent members of the company throughout. In 2012, when Ram Sumiran Pal went to Malaysia to avoid his arrest, he stayed with Satish for more than a month and he provided him all the logistics in Malaysia.
In 2013, he came to know that Mumbai police might have taken up the matter with Interpol, therefore, to avoid his arrest in a foreign country, he with his family returned to India, police said.
He reached Kathmandu by air and then reached Delhi by road because of apprehension that Mumbai Police might have issued his "Look Out Notice" at all airports in India. Even after returning to Delhi, he worked as an advisor of Ram Sumiran Pal and helped him in investing his money, said Yadav.
Further investigation is being made and police of other states are also being informed about his arrest. From the intensive interrogation, some vital clues about other wanted people have surfaced, police said.
A company namely Speak Asia, registered in Singapore, was introduced in India in early 2010 by the two Pal brothers with the help of one Manoj Sharma.
Speak Asia was an online survey marketing company which sold web subscription for Rs 11000 each and in return the investor had to fill survey forms, which were later found to be fake, for certain MNCs for promised annual payment of Rs 52000. After paying few initial investors, Speak Asia wrapped up its operation in India around mid-2011.
According to police, 'Speak Asia' had remitted over Rs 900 crore to Singapore. The money was sent from India to the banks in Singapore and from there to Dubai, Italy and UK. However, the money came back from UK again to UAE (Dubai) and to India.
Ram Sumiran Pal was the first senior office bearer of 'Speak Asia' to be arrested.