Satyam Scandal
"Satyam's 53-year-old co-founder and chairman, B. Ramalinga Raju, faxed a five-page letter to the company detailing how he'd faked revenues and earnings for years".
"it's hard to imagine how a publicly traded company, which must comply with U.S. Sarbanes Oxley disclosure rules, could have been mislead for so long by one or even two individuals". They are exploring the possibility of a sale or merger of all or part of the company.
It seems this crisis is forcing frauds to come out in the open (see Mr Madoff case). At least it is useful for something ethic.
forbes
NYT
"it's hard to imagine how a publicly traded company, which must comply with U.S. Sarbanes Oxley disclosure rules, could have been mislead for so long by one or even two individuals". They are exploring the possibility of a sale or merger of all or part of the company.
It seems this crisis is forcing frauds to come out in the open (see Mr Madoff case). At least it is useful for something ethic.
forbes
NYT
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