Today's top seven stories that you are unlikely to see in the mainstream media.
India Agency Files More Charges Against 10 Accused in Satyam Scam
MUMBAI -- India's federal probe agency said Tuesday it has filed additional charges against 10 people accused in the accounting scam at software exporter Satyam Computer Services Ltd.
The Central Bureau of Investigation, or CBI, said in a statement that it has added the company's global head of internal audit as an additional accused for deliberately concealing auditing irregularities.
The agency said it has evidence that the accused created fake customer identities and generated fake invoices against their names to inflate revenue by about 4.30 billion rupees ($92.4 million).
The agency has evidence that the accused forged the resolutions passed by the company's board and illegally got loans of about 12.20 billion rupees in the company's name, it added.
Satyam Computer was embroiled in an accounting scandal after its founder, Ramalinga Raju, admitted in January that he overstated the software exporter's profits and created a fictitious cash balance of more than $1 billion.
Source:http://online.wsj.com/article/SB125907220343462325.html
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