SEC Fines Pricewaterhouse India Affiliates; Indian Jokers to Pay $6m Fine Over Satyam Audit Fiasco

By on    Business, IT Industry  

The Securities and Exchange Commission has ordered five affiliates of accounting firm PriceWaterhouse India to pay a $6 million fine in connection with sloppy auditing of crooked Indian software firm Satyam Computer Services which collapsed spectacularly in January 2009. Satyam engaged in fraudulent financial accounting by falsifying the company’s revenue, income, earnings per share, cash, […]

We are Big Time Crooks, Confesses Satyam

By on    Business, IT Industry  

Indian IT services provider Satyam Computer Services today acknowledged duping investors for years through massive fraud in its accounts. Satyam’s beleaguered Chairman B.Ramalinga Raju and managing director B.Rama Raju have resigned. Ha Ha Ha, Duped You All – Ramalinga Raju Providing details of the massive fraud in a letter to the company’s board, Ramalinga Raju said the balance […]