BANKRUPT BANKER
Showing posts with label India's 'biggest corporate fraud' case. Show all posts
Showing posts with label India's 'biggest corporate fraud' case. Show all posts
AFP: Court hears India's 'biggest corporate fraud' case: "disgraced founder of Indian outsourcing giant Satyam appeared in court Tuesday in a billion-dollar corporate fraud case dubbed 'India's Enron'.
The firm's founder and former chairman B. Ramalinga Raju -- a one-time poster boy for Indian economic progress -- was present for a preliminary hearing in the southern city of Hyderabad.
His declaration in January 2009 that he had falsified profits plunged the Indian business world into turmoil.
The court on Tuesday issued summonses to a list of witnesses, Raju's lawyer, Bharat Kumar, told AFP.
Raju, who faces charges including conspiracy, cheating and forgery, declared in a letter of confession that he had overstated profits for years and inflated the company's balance sheet by more than a billion dollars.
He later backed down from the confession, but police maintain the letter was a 'voluntary disclosure of fraud'."
0
comments
-
BBC Cliff Richard raid coverage was 'invasion of privacy' - BBC News - BBC Cliff Richard raid coverage was 'invasion of privacy' - BBC News: 'via Blog this' :Text may be subject to copyright.This blog does not claim copyri...
-
The Spanish Untouchables - [image: Busto del Rey Juan Carlos I de España en su vi...] A new tell-all book that details what led to Spanish king Juan Carlos giving up the throne wou...
-
'Hatchet' Gerard Kavanagh shot dead in Costa del Sol pub - Gerard Kavanagh was shot dead in a bar on the Costa del Sol Notorious gangster Gerard “Hatchet” Kavanagh was gunned down by two masked assassins yesterda...
-
Gang boss burns out garda sergeant's car while he plays football - Gardai have launched a major investigation after a car belonging to a popular sergeant was burnt-out in a grudge attack linked to gangland thugs. SHARE T...
-
Spanish police have arrested a Colombian drug boss dubbed ‘The Mouse’, the alleged leader of a major cocaine smuggling gang accused of 400 killings - Spanish police have arrested a Colombian drug boss dubbed ‘The Mouse’, the alleged leader of a major cocaine smuggling gang accused of 400 killings, offi...
