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India’s CBI Charges Nine People, Including PwC Auditors, With Forgery and Fraud
India’s Central Bureau of Investigation charged nine people, including auditors from PricewaterhouseCoopers, with forgery and fraud today after concluding its investigation into Satyam Computer Services. The NY Times reports that after a 45-day investigation, the CBI stated that it was charging six employees from Satyam Computer Services, two auditors from PricewaterhouseCoopers and an outside adviser [...]
Satyam Computer Services Now “India’s Enron”
“It was like riding a tiger, not knowing when to get off without being eaten.” So said B. Ramalinga Raju, chairman and chief executive of Satyam Computer Services, who resigned after confessing to falsifying the company’s financial records in a $1 billion fraud. The Satyam fraud has been immediately dubbed “India’s Enron” by many. Raju [...]