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Tuesday, January 13, 2009

Scandal / Scam by India's Satyam founder Ramlinga Raju

Satyam founder Ramlinga Raju has been booked for:

* Criminal conspiracy, after he confessed to perpetrating a 7,000-crore financial fraud
* He also faces charges of cheating for presenting a false picture
* Forgery for doctoring accounts and showing inflated revenues
* Raju and his brother have been booked for criminal breach of trust, now that the future of nearly half-a-lakh employees are at stake
* He’s also been booked for misappropriation of funds - several financial documents and bank statements are missing
* All charges are non-bailable

read all about scandal / scam here


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