Following on from the
arrest of Renu Sharma
late last year, Mumbai’s EOW have now filed a chargesheet against the accused.

Sharma is the wife of Speak Asia’s CEO, Manoj Kumar Sharma. Manoj Kumar purportedly died in Singapore back in 2014 however the claim was never independently verified.

Renu Sharma’s chargesheet accuses her of money laundering.

In its chargesheet, the EOW said Renu had laundered over Rs 710 crore ($104.6 million USD) through the account of the company, of which she was the signatory authority.

Renu Sharma is also the likely recipient of whatever her husband managed to steal from Speak Asia investors before he fled India.

For those unfamiliar with the scam,
Speak Asia
was an Indian Ponzi scheme that first surfaced in late 2010.

The EOW has arrested over 30 persons and has filed a 7,500-page chargesheet against 21 people.

Hopefully the EOW can wrap up the case in court by the end of the year, but I’m not holding my breath. Authorities in India
first cracked down on Speak Asia
all the way back in mid 2011.

🤖 Quick Answer

Who is Renu Sharma and what are the charges against her?
Renu Sharma is the wife of Speak Asia CEO Manoj Kumar Sharma. Mumbai's Economic Offences Wing filed a chargesheet against her accusing her of money laundering. She allegedly laundered over Rs 710 crore through company accounts where she held signatory authority, making her a key figure in the Speak Asia Ponzi scheme investigation.

What was Speak Asia and when did it operate?
Speak Asia was an Indian Ponzi scheme that emerged in late 2010. It defrauded numerous investors before collapsing. The scheme involved fraudulent investment promises and illegal financial operations. The Economic Offences Wing has arrested over thirty individuals connected to the scam's operations and management.

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