reply in your own words 150 words.

Scam and fraud are very common these days . Here Im going to explain a scam about the India company called satyam. Which is the IT department and make computers. Company make a fraud of $78,000 million dollar. Tje owner of company writing a letter to board of directors that he make a change in balance sheet. He added 1.47 billion dollar to the actual amount of assets. The fraud that did by the company was , the company misrepresented its accounts both to its board, stock exchanges, regulators, investors. They were make a fake accounts and identity to prove that they were paying salaries to their employees. which misled the market and other stakeholders by lying about the companys financial health. Even basic facts such as revenues, operating profits, interest liabilities and cash balances were grossly inflated to show the company in good health. The fraud is did by person name raju because she presents wrong bills , and fake five pages bills and invoices. The internal audit team and board of directors was also involved in fraud and They were paying double amount to audit team that were hired to check the process in organization. At end the owner wants to fix his balance sheet and get fail do that and expose all his scam.

To conclude , this company was banned up eight year and hot charged by the police.