But in India they are still old fashioned... "Executives still go to JAIL"
They have not heard of "Bail out" money or where as in the USA, they are placed in house arrest for losing 50 times the amount Satyam lost. At the start of the Iraq war, they lost 1 Billion but that was accounted to old software they where using in Iraq... and then they build a 800 Million Embassy, for all the politicians to visit there. Note: Maybe they just have old IBM computers and Accounting Software in use at SATYAM ? Indian government holds Satyam execs in jail ahead of trial Posted in Enterprise, 12th January 2009 10:16 GMT Ramalinga Raju, his brother, Rama, and Satyam's chief financial officer Vadlamani Srinivas are all in prison this morning after being arrested and charged with conspiracy and forgery offences connected to the $1bn fraud at the Indian outsourcer. The three men will stay in custody until a trial, scheduled to start 23 January. Raju resigned last week after he told the board he had falsified years of company accounts. On Saturday the Indian government sacked all Satyam's directors and appointed three experienced executives to run the firm. http://www.channelregister.co.uk/2009/01/12/satyam_boss_jailed/ On Wed, 7 Jan 2009 11:40:20 -0600, Rick Fochtman <[email protected]> wrote: >I'm very pleased to see that at least the IMAGE of "Corporate >Corruption" is not limited to the US. But in all fairness, each case >needs proof. > >On the other hand, the state of Illinois seems to have more than its >share; the record speaks for itself........ :-( > ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: GET IBM-MAIN INFO Search the archives at http://bama.ua.edu/archives/ibm-main.html
