Friday, March 13, 2009
Americans have shown the way how it is done. Bernard Madoff confessed to having embezzled $ 50 billion in a giant ponzy scheme. He was arrested and tried. Yesterday he pleaded guilty and will be sentenced on June 16. The prosecutor has asked for 150 years without parole and it is almost certain that whatever be the length of the sentence he will spend the rest of his natural life in prison since he is already over seventy years old. Contrast this with Ramalinga Raju of Satyam who has also openly confessed to looting the company, falsifying acounts and lying to shareholders. Rumour is he confessed in India so as to avoid american justice. And how he has succeeded. He has been put in a luxury cell with tv and linen service. Every effort has been made to protect him from questioning by SEBI. Now the CBI are questioning him. After elections he will be given bail and the the trial will be postponed repeatedly until the ' evidence ' will be lost or burnt in a mysterious fire. The CEO of Satyam, a US citizen, has escaped to the US and claims to have no knowledge of what Raju was upto. Surely this idiot was totally unfit to be a janitor let alone a CEO. The americans have started several class action suits which will achieve little if Raju is declared bankrupt. Is there no one who will register a criminal case in the US and force his extradition, away from the criminal filth protecting him? Better to finish here before writing something which will make me liable to contempt of court.
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