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

Bruce Carton | December 9, 2014
In July 2014, I noted here that although it had taken over five years, the wheels of justice were finally in motion against B. Ramalinga Raju, former chairman and CEO of Satyam Computer Services, as India's securities regulator had ordered Raju, his brother, and two others to disgorge $307 million. In January 2009, Raju publicly admitted in a letter to Sayam's board of directors that he had engaged in a $1 billion financial fraud. In the letter, Raju stated that the falsification of Satyam's financial records began as one-time effort to hide a bad quarter but then spiraled out of control to the point that it “was like riding a tiger, not knowing when to get off without being eaten.”
Although the Satyam fraud came...
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