Introducing
Prezi AI.
Your new presentation assistant.
Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.
Trending searches
Loading content…
Loading…
Copy of Satyam Scandal
Transcript
Satyam Scandal
Rationalization
- Raju felt he needed to falsely boost revenue in his books to cover minor losses.
- This was Raju first offense is accounting fraud scheming.
- Everyone else was doing it, so maybe thought he wouldn't get caught.
- Feelings of entitlement
Pressure
- The cash raised was used to purchase several thousands of acres of land across Andhra Pradesh.
- It started presenting growing problems as facts had to be doctored to keep showing healthy profits for Satyam that was growing in size and scale.
- Every attempt to eleminate the gap failed and forced him to make the confession.
Who was involved
- The Founder/CHairman Ramalinga Raju
- His brother Rama and seven others
- Raju admitted the actions to the board of directors in a letter
- Raju and his brother was charged with breach of trust, conspiracy, cheating and falsifying records. Received seven years of prison!
Opportunity
- To try and solve his financial problems Raju claimed that the fraud began as an effort to obscure minor losses by the company and grew over the years to a gap between real and actual revenues that he could no longer conceal.
- Raju denied the allegations of taking the money and using it to provide for himself and family.
Company
- Indian IT services and back-office accounting firm.
- Falsely boosted revenues by $1.5 billion
Choose a template
Presentations from around the world
Learn more about creating dynamic, engaging presentations with Prezi