Monday, June 29, 2009

Additional Confirmation Why Getting Duped in India is Bad

Last month we told you about the two audit P. Dubya partners that are sitting in an Indian prison because they are accused of being complicit while Satyam just sorta made the numbers up.

You would figure that a couple of auditors spending a few months in prison would be able to make bail and end up on house arrest for their trial. Not so in India, friends.

The judge in the case, has denied bail for the two bean counters:
The court also felt that there is material evidence against the two auditors, who represent Price Waterhouse, for their involvement in the scam. The court also agreed that despite the availability of authenticated documents on various accounting issues in the company, the auditors chose to go by the documents provided by the Satyam management.
So, just in case you're keeping score at home, Allen Stanford may post bail in U.S. and two auditors in India (either crooked as the Satyam management or simply dimwitted, neither so flattering) are going to stay in the joint.

No bail for Satyam auditors: HC
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