Company Frauds So Terrible You Won’t Believe They Actually Happened

Satyam Admits Wrongdoing With A Nice Letter

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Satyam was one of the most successful Indian IT accounting firms until 2009 when it was revealed the books were being cooked! In order to falsely boost revenue by $1.5 billion company founder, Ramalinga Raju faked revenues, margins, and cash balances.

Oddly enough, Raju was only caught after he admitted to his fraudulent activities in a letter sent to Satyam’s Board of Directors. How nice and convenient for him to do without any reported reason why. Maybe he suddenly grew a conscious? In the end, he was charged with cheating and falsification of records, as well as breach of trust. When the Central Bureau of Investigation failed to file charges on time, Raju was released.