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Satyam letter from Mr. Ramalinga Raju to its board directors admitting fraud!
Satyam Computer Services Ltd. will have to restate earnings after the company’s founder was arrested in India’s biggest corporate fraud investigation, executives said. The CEO’s admission last week that he’d fabricated $1 billion in cash and assets sparked a record plunge in the company’s shares that wiped out $2.2 billion of investor wealth. Interestingly, Satyam’s financials are [...]
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