Ramalinga Raju in Hall of Shame

Forbes put Satyam’s (Now Mahindra Satyam) founder-Ramalinga Raju in ‘World’s 10 most outrageous CEOs’ list. The ill-famed Raju is at the 4th place in the Hall of Shame list for 2009. Forbes is best known for its rankings for world’s richest and most powerful persons. It also announces most infamous persons.

 In January this year Raju announced that he had inflated the company’s performance figures and showed fictitious employees of more than 10,000. Investigations revealed that he had stolen a lot of investors’ money in the country’s first ever financial scandal of its kind.

Yesterday Deputy Inspector General of CBI told that the fraud could be bigger than what was mentioned by Mr Raju (Rs 1.36 billion). Court will begin its trials in next 3-4 weeks.

 

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November 27, 2009 | Filed Under Market Outlook 

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