Offers SatyamScandal.com - The Enron scandal of India - Thousands of results for the terms

[Theo]

SatyamScandal.com

Domain just registered at Fabulous - taking offers. Perfect for a news blog for the tens of thousands of disgruntled customers and investors that have been ripped off. It's already been tagged by the news media as the Enron scandal of India. Thousands of results already for the terms in Google.

As announced today on all major financial networks, Satyam Computer Services Ltd. Chairman Ramalinga Raju resigned after saying he falsified earnings and assets, prompting a collapse in the stock of India’s fourth-largest software-services provider.

Raju unsuccessfully tried to sell two companies to Satyam last month in a final attempt to plug 50.4 billion rupees ($1.03 billion) of “fictitious” cash on the company’s balance sheet, he wrote in a letter to Hyderabad-based Satyam’s board today. Profits have been inflated for “several years,” he said.

More info about the Satyam scandal at Wikipedia.

 

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