India's Madoff? Satyam Scandal Rocks Outsourcing Industry

Madoff and Ponzi sure are the new buzzwords :)

I can't wait until we see our first rockstar Madoff. :)

Tp prevent such frauds in future, all stock exchange listed companies in India must comply with RTI Act (Right To Information Act). In Bangladesh all listed companies comply with their RTI Act.

http://en.wikipedia.org/wiki/RTI_Act

1. Rs 7000 crores is missing from Satyam

2. CEO Ramalinga Raju has admitted that he committed fraud

And yet Satyam interim CEO Ram Mynampati has not filed any police case against either Ramalinga Raju or Satyam Auditors.

Mr Ram Mynampati seems to be a co-conspirator to this fraud.

That man Raju (CEO) is one of the biggest conman India has seen in recent times.

How could he do that?

I've been following the news here in Bangalore, and its so sad especially to realize the helplessness of the employees....

He should be put behind the bars!!! Imediately!!!!