Satyam Scandal
The Satyam Computer Services scandal was a corporate scandal that occurred in India in 2009 where Chairman Ramalinga Raju confessed that the company's accounts had been falsified. The Global corporate community was shocked and scandalized when the Chairman of Satyam, Mr. Ramalinga Raju resigned on 7 January 2009 and confessed that he had manipulated the accounts by $1.47-Billion.
Read more about Satyam Scandal: Background, Role of Auditors, Role of Directors, Analysis, Aftermath, New CEO and Special Advisors, Acquisition By Mahindra Group, Restatement of Results, See Also
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“There’s no scandal like rags, nor any crime so shameful as poverty.”
—George Farquhar (1678–1707)