Indian police agency unravels Satyam accounting fraud

by Raghavendra Verma, in New Delhi

The Central Bureau of Investigation (CBI) of India has revealed details of the fake invoicing mechanism at Satyam Computer Services Ltd, which was integral to the US$1 billion-plus fraud that has rocked the company. Documents published in India show how executives were allegedly regularly able to subvert the company’s standard billing systems for emergency invoices to generate “false invoices to show inflated sales”.