Satyam Shares Crash After Massive Fraud Revealed

Shares of Indian IT services provider Satyam Computer crashed today on the Bombay Stock Exchange after the company’s chairman B.Ramalinga Raju acknowledged massive fraud in the company’s accounts.

On the Bombay Stock Exchange today, Satyam shares fell 77.69% to Rs 39.95.

Ramalinga Raju said in a letter to the company’s board that the fraud had been going on for several years.

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