Managers and insiders who orchestrated an extensive fraud at the Indian outsourcing company Satyam Computer Services bought more than 1,000 pieces of property with the money they diverted, the Central Bureau of Investigation in India said. The bureau also said the 10 people accused in the case had forged board resolutions, obtained unauthorized loans and created more fake customers and generated more fake invoices than previously discovered. Satyam’s founder admitted in January to faking $1 billion in cash on the company’s balance sheet.
Source:http://www.nytimes.com/2009/11/25/business/global/25fobriefs-SATYAMMANAGE_BRF.html?_r=1
