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Uploaded byhanipatel0305
satyam scam
This document summarizes the Satyam scam, one of India's largest corporate frauds. It describes B. Ramalinga Raju, the founder and former chairman of Satyam Computer Services, and how he grew the company significantly from 1987 to 2002. It then explains how in January 2009, Raju admitted to inflating Satyam's cash balances and revenues by over $1 billion. He had used dummy accounts to manipulate trading of Satyam shares and divert funds to Maytas, another company he founded, violating insider trading norms. In addition to Raju, several other top executives were involved in the scam through falsifying records, misleading investors, and failing to return borrowed money. The document analyzes the reasons for the scam
