More than five years after Indian police first opened their investigation into Speak Asia, the case is far from closed. Last week, officers arrested two key suspects: Rema Sharma, wife of Speak Asia CEO Manoj Kumar Sharma, and Arun Rai, a prominent investor in the scheme.

Rema Sharma's arrest marks a significant breakthrough in tracking down those responsible for moving massive sums of investor money. She and her husband, along with Rajeev Mehrotra, controlled Tulsiyat Tech, the company that managed funds flowing into Speak Asia. Through Tulsiyat, the three funneled over Rs. 7 billion—approximately $105.2 million USD—from India to Singapore in what police describe as a money laundering operation.

According to Rema Sharma's statement to police, her husband died of cancer in 2014 at a Singapore hospital. Rumors of his death first circulated that year, but the claim has never been independently verified. An Interpol red corner notice for Manoj Kumar Sharma remains active.

Police cited Rema Sharma's position as a director of Tulsiyat as the basis for her arrest.

Arun Rai's capture came swiftly. Immigration officials at Kolkata airport stopped him Wednesday as he prepared to board a flight to Bangkok. Officers say Rai transferred over Rs. 70 crore from his own account directly to Speak Asia. Police took him into custody immediately and produced him before the court the following day.

Both suspects have been remanded in police custody until October 13th.

The Speak Asia investigation has grown significantly since its inception. Police have arrested 32 people connected to the scheme and frozen 215 bank accounts holding over Rs. 1.4 billion ($21.1 million USD) in potentially stolen investor funds. The full scope of the fraud remains staggering, with thousands of people who bought into Speak Asia's promises still waiting for answers about their missing money.

🤖 Quick Answer

Who was arrested in connection with the Speak Asia case?
Police arrested Rema Sharma, wife of Speak Asia CEO Manoj Kumar Sharma, and Arun Rai, a prominent investor in the scheme. Rema Sharma's arrest represents a significant development in the investigation into the illegal movement of investor funds from India to Singapore through Tulsiyat Tech.

What was Rema Sharma's role in Speak Asia?
Rema Sharma, alongside her husband Manoj Kumar Sharma and Rajeev Mehrotra, controlled Tulsiyat Tech, the company responsible for managing funds flowing into Speak Asia. Through this company, the three individuals allegedly transferred over Rs. 7 billion to Singapore.

How much money was allegedly laundered in the Speak Asia scheme?
According to police investigations, more than Rs. 7 billion—approximately $

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