Tuesday, May 26, 2009

Scam of Ramalinga Raju- Founder of Satyam Computers

Hello friends, I hope you people saw the latest scandal by India’s fourth largest software company, Satyam. Satyam computers were started in 1987. Ramalinga Raju the founder of Satyam Computers is the master brain behind the biggest scam of a software firm in Indian history. Ramalinga Raju has forged around twenty crore rupees every month from the year 2003. It’s really a bit big amount. He just transferred his money in his concern companies, which may not be took out easily if they get caught. The police first arrested Ramalinga Raju and the CFO Vadlamani Srinivas for the forged documents case and later the financial consultants and the bookkeepers of the firm.
After the arrest of the founder and their resignations from their posts, Satyam has appointed the new members to the board. The new members are C.Achutan, Kiran Karnik and Deepak Parekh. Satyam is looking the help of the banks to distribute salaries to their employees.

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