The Securities and Exchange Commission has initiated an investigation into information technology company Infosys regarding allegations from an anonymous whistleblower group contending the company’s chief executive and its chief financial officer engaged in “disturbing unethical practices.”
Launch of the SEC investigation follows an anonymous letter, dated Sept. 20, that a group of Infosys employees sent to Infosys’ board and the SEC, alleging CEO Salil Parekh has been forcing the finance team to engage in unethical accounting practices, such as not fully recognizing costs to improve profits. “We have voice recordings of these conversations,” the letter stated, as reported by The Times of India.
