Dick, re: Satyam Computers in India - big fraud, is it Spielberg staging it?
LIBERATOR
family in India, is he also in control of their intelligence-police-
military now of which to stage fraud at his Satyam Computers which
clearly is his by the "shading vibration" I get from the persons
energy photoed as showcasing the site, or did you bust Spielberg
legitimately and is it you in charge of intelligence there?
http://www.mahindrasatyam.com/index.asp
You know the manuever I'm talking about, committing fraud using
intelligence agencies as Spielberg does, the cover for it is to bust a
company and say there is fraud going on there, using the intelligence
agency. The trick is an intelligence agency busting someone for fraud
thus isn't fradulent - only an evil Jew uses this duplicity, or Nazis
defending against Jews doing it.
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http://online.wsj.com/article/SB10001424052748703499404574559263208602726.html
Wider Fraud Is Seen At India's Satyam By ROMIT GUHA
MUMBAI -- India's Central Bureau Of Investigation said Thursday the
accounting fraud at Satyam Computer Services Ltd. is now estimated at
118.8 billion rupees ($2.58 billion), much larger than the amount
estimated by regulators initially. But an executive at Satyam said it
doesn't expect any additional liability from the CBI's investigation
that laid out supplementary charges on the Indian software exporter.
B. Ramalinga Raju
"We have new evidence that shows the fraud is larger than what was
earlier estimated," V.V. Laxmi Narayana, deputy inspector general of
CBI, told Dow Jones Newswires. The earlier estimate was 71.36 billion
rupees.
The CBI took over the investigation from the Andhra Pradesh state
investigation agency a few months after Satyam Computer founder B.
Ramalinga Raju admitted in January that he overstated the software
exporter's profits for several years and created a fictitious cash
balance of more than $1 billion.
In its second charge sheet filed Tuesday, the CBI said that former
Satyam executives and some former auditors created fake customer
identities and generated fake invoices against their names to inflate
revenue by about 4.30 billion rupees.
CBI also said that the accused forged board resolutions and obtained
unauthorized loans worth 12.20 billion rupees on behalf of Satyam, and
used the amount to buy property worth 3.50 billion rupees.
The company had paid out dividends worth 2.3 billion rupees based on
the inflated numbers, the agency said.
"The accused, being shareholders in the company, would have gotten
part of the dividend," Mr. Narayana said.
Satyam also "falsified the accounts to the tune of 1.8 billion rupees"
while buying Hyderabad-based business process outsourcing company
Nipuna, he said.
Mr. Narayana said the case will go to trial in the next two to three
weeks and that a special court is being set up to speed up the trial.
Lawyers for the accused said they haven't received the copy of the
charges and could not comment.
Vineet Nayar, executive vice chairman of the company and Tech Mahindra
Ltd., told Dow Jones Newswires that he doesn't expect any additional
liability from the new charges.
"The CBI is talking about the fraud by some individuals. They have
talked about dividend being paid despite there being no profits, loans
being raised by pledging of company's shares, but it has nothing to do
with the company as such," Mr. Nayar said.
Since the accounting scandal broke out, a government-appointed board
sold a majority stake in the company through an auction to Tech
Mahindra. The company holds a 42.7% stake in Satyam.
Shares in Satyam rebounded on the comments about no additional
liability. It closed up 2.4% at 92.75 rupees on the Bombay Stock
Exchange, while the broader market ended provisionally 2% lower.
The stock had plunged 11% Wednesday and fell over 8% intraday Thursday
after the CBI's charge sheet Tuesday.