New charges filed yesterday by India’s Central Bureau of Investigation (CBI) allege that the accounting fraud at India’s Satyam Computer Services Ltd. took in approximately $1 billion more than Satyam CEO Ramalinga Raju originally admitted. When Raju confessed to India’s largest corporate fraud in January, he admitted that he had invented about $1.5 billion in fake assets. As the scandal has unfolded, however, over the course of the year, it appears that even Raju’s confession is a fabrication.
