Guest Post "Lessons From India"

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The chairman of Satyam resigned and admitted that the company inflated its earnings for several years and engaged in accounting fraud to the tune of $1.4 bil. Within a week he, his brother, and Satyam's CFO have been arrested and are currently in jail awaiting trial on criminal charges of conspiracy, cheating and falsification of records and the SEBI has announced that it will conduct a 'peer review' of the financial statement

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