Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

Is there any similarity between frauds committed by Rajat Gupata of USA and Ramalinga raju of India?

Tags: india, money, usa
Asked by bhaskara rao, 26 Oct '12 02:23 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (2)

 
1.

No. Raju debauched with the accounts of his company Satyam for many years and used that money for his self benefit so much so that a day came there was no cash left even to pay to his employees. This is the fraud of the highest level because Satyam is a company in which shareholders had invested and instead of giving benefits to them and the company he was purchasing benaami properties in his son's company for the family's benefits.
Rajat Gupta's case is totally different. He has been punished for indulging in insider trading. He was one of the directors of Goldman Sachs and in a meeting it was made known that a prominent firm will buy a part of their shares. After acquisition of these shares the firm's stock price was likely to increase. He gave this information to one of his Indian friends on telephone and that man purchased huge stock of the shares immediately from the stock market and earned a neat profit. Unfortunately, Rajat Gupta's telephone was being tapped and he was found gu ...more
Answered by Manoj Adwani, 26 Oct '12 02:49 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received
2.

No
Answered by anil garg, 09 Aug '13 01:15 am

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining