The SEC alleges that when the fraud was finally revealed, Satyam then Chairman, B. Ramalinga Raju, declared that maintaining Satyam inflated revenues and profits like riding a tiger, not knowing how to get off without being eaten. And other former senior and mid level Satyam executives, as well as two lead engagement partners from Satyam former external audit firm, are defendants in a criminal trial now underway in India..
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The result was $1.1 million in profits for Stryker. The subsidiary reimbursed the Mexico based law firm for the bribe and booked the payment as a legitimate legal expense. However, no legal services were actually provided and the law firm simply acted as a funnel to pay the bribe..
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