Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

'Laws of the Land' Finally Catching Up to Former Satyam CEO

Bruce Carton | July 16, 2014

In January 2009, B. Ramalinga Raju, chairman and CEO of Satyam Computer Services, an Indian company, stunned India and the company's shareholders when he admitted in a letter to the board of Satyam that he had falsified the company's financial records in a $1 billion fraud. In the letter, Raju resigned and agreed to “subject myself to the laws of the land,” adding that the fraud had begun as an effort to hide one bad quarter but then had gotten out of hand. “It was like riding a tiger, not knowing when to get off without being eaten,” Raju wrote.

Today in India, over five years later, India's securities regulator (SEBI) ordered Raju, his brother, and two others to ...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.