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The unfolding saga of the fraud by Citibank India employee, Shivraj Puri, is, like all such scams, both sordid and unbelievable. All frauds are sordid, so let’s focus on the unbelievable. As expected, investor ire and media attention are being focused on the “big bad” Citi. “We cannot believe that Citibank >>read more… Last month, during earning’s season, the financial media and analyst community were up in arms over Tech Mahindra’s alleged “aggressive accounting methods”. The issue overshadowed all others during the analyst’s call, so much so, that Tech Mahindra’s vice-chairman Vineet Nayyar is quoted (in the Mint) as saying, “I’m >>read more… Stock exchanges exist because people like you and me buy and sell shares. And there are millions of us, who soldier on, despite corrupt managements, ineffectual regulators, scams, misinformation and much more. Whether trader or investor, it is we, the “public” that ensure that all this >>read more… The first prick in the Satyam bubble was the aborted merger of sister Maytas companies. This was also when we all discovered that Maytas was Satyam spelled backwords. Subsequently, things began to unravel very rapidly for Mr. Raju – and culminated in his dramatic confession, professing >>read more… |
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