Ex-Satyam Execs Hit With $500M Penalty For Accounting Fraud

Law360, New York (July 18, 2014, 4:37 PM EDT) -- India's securities regulator has ordered former executives of Satyam Computer Services Ltd. to disgorge over $306 million in ill-gotten gains and pay at least $201 million in interest for their purported role a massive accounting fraud scheme to falsely inflate the revenues of the former information technology company.

The Securities and Exchange Board of India on Wednesday said it handed down the judgment to Satyam founder and Chairman Ramalinga Raju, his younger brother and former CEO Rama Raju, ex-Chief Financial Officer Vadlamani Srinivas as well as one-time executives G. Ramakrishna and V.S. Prabhakara Gupta. All of the former Satyam heads are...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!