Cempaka Asean: Ex-Satyam chief gets seven years for 'India's Enron'

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - Text version)

“….. Here is the prediction: China will turn North Korea loose soon. The alliance will dissolve, or become stale. There will be political upheaval in China. Not a coup and not a revolution. Within the inner circles of that which you call Chinese politics, there will be a re-evaluation of goals and monetary policy. Eventually, you will see a break with North Korea, allowing still another dictator to fall and unification to occur with the south. ….”

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Friday, April 10, 2015

Ex-Satyam chief gets seven years for 'India's Enron'

Yahoo – AFP, Vivek Nemana, 9 April 2015

Then chairman of India's Satyam Computer Services Limited Ramalinga Raju,

pictured in 2008 (AFP Photo/Noah Seelam)

An Indian court on Thursday sentenced the former chief of outsourcing giant Satyam to seven years in jail over a $2.25 billion accounting fraud scandal dubbed "India's Enron".

Byrraju Ramalinga Raju, his brother and eight others were found guilty of manipulating Satyam's books in a 2009 case that shook the industry and raised questions about the country's regulators.

"All the accused have been convicted of almost all charges," prosecutor K. Surender told reporters outside the court in Hyderabad, capital of southern Andhra Pradesh state.

Byrraju Ramalinga Raju (C), the former

chairman of outsourcing giant Satyam,

leaves the Metropolitan Criminal Courts

in Hyderabad, on March 9, 2015 (AFP

Photo/Noah Seelam)

Raju was charged with criminal conspiracy, cheating and breaching public trust in a fraud during India's IT boom that prosecutors told the court caused 140 billion rupees ($2.25 billion) in losses to shareholders.

Raju and the others refused to comment to reporters and television crews as he was led by a throng of officers into a police van after sentencing.

"It goes without saying that we will appeal the judgement," one of his lawyers, E. Uma Maheshwarao, said before his client was taken to Hyderabad's Cherlapally Jail.

The court imposed seven-year jail sentences and fines of 50 million rupees on Raju and his brother following a trial in which prosecutors produced thousands of pages of financial documents and 200-odd witnesses.

The eight other defendants were sentenced to seven years in jail and given fines of 2.5 million rupees, according to V. Chandrasekhar, deputy inspector general of the Central Bureau of Investigation.

"India very rarely prosecutes corporate fraud. And this is the biggest corporate fraud case in South Asian history. So for us, getting a conviction is a big victory," one of the investigating officers told AFP on condition of anonymity.

The Satyam scandal erupted in 2009 after Raju admitted in a letter to shareholders to overstating profits for years and inflating the company's balance sheet, a confession that saw the company's share price plummet.

Tech Mahindra, a unit of Indian vehicle and farm equipment manufacturer Mahindra and Mahindra, bought Hyderabad-based Satyam in April 2009, saving it from collapse.

File photo of Satyam Info-City office

building in Hyderabad, taken in 2009

(AFP Photo/Noah Seelam)

Raju, who was educated in India and the United States, was one of the stars of India's software boom -- a key driver of the country's economic growth over the previous decade.

"The concern was that poor performance would result in a takeover," he said in his letter to shareholders.

"It was like riding a tiger, not knowing how to get off without being eaten."

'Messiah of IT'

The confession sent shockwaves through the industry, which had put Raju's success down to dedication and hard work in Hyderabad, an IT hub that acts as the Indian headquarters of Google and Microsoft.

"Raju was like the messiah of IT for Andhra Pradesh back then," said KV Kurumanath, an editor at the Hindu BusinessLine newspaper.

"He was looked upon as a god, and a big achiever," said Kurumanath, who has been closely following the case.

Raju has been out on bail since November 2011 after spending nearly three years behind bars during the trial.

Founder and former Chairman of fraud-hit

Satyam Computers, B. Ramalinga Raju is

escorted from Chenchalguda Jail in

Hyderabad, in April 2009, enroute to a

court appearance (AFP Photo/Noah Seelam)

His brother, Satyam's former managing director B Rama Raju, was also convicted, along with other employees and two former staff at PricewaterhouseCoopers, the firm's auditors.

PwC said it was "disappointed" by the verdict, and its former staff were considering an appeal.

"As we have said many times, there has never been any evidence presented that either of our former partners S Gopalakrishnan or Srinivas Talluri were involved in or were aware of the management-led fraud at Satyam," said PwC in a statement.

Raju's lawyers had told the court that he was not responsible for the losses and that documents filed during the trial were fabricated.

India's equity market regulator last year slapped multi-million-dollar fines on Raju for manipulating the firm's shares during the scandal.

But the case raised concerns about why regulators, who were only prompted to act after Raju confessed, failed to spot the scam earlier, along with corporate governance issues and accounting standards.

"The biggest thing this reveals is the failure of India's regulatory system," said S. Nagesh Kumar, a news analyst and former editor based in Hyderabad.

US energy giant Enron collapsed in 2001 in the wake of massive false accounting revelations.

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Friday, April 10, 2015

Ex-Satyam chief gets seven years for 'India's Enron'

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