A short while ago, Bernard Madoff received a sentence of 150 years in prison for the decades-long Ponzi scheme that bilked investors out of billions of dollars.
The sentence means Madoff, who lived the good life with private jets, yachts and Palm Beach mansions, will never smell the roses again.
Sweet.
By the way, what the f*** is happening with the court cases involving Indian businessman Ramalinga Raju, who confessed to cooking the books and caused the collapse of software exporter Satyam Computer Services (recently acquired by Tech Mahindra).
Are the Indian politicians protecting the scumbag Raju?
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Madoff Gets 150 Years in Prison; What Should Raju Get? added by SearchIndia.com on
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Probably, he may get get a lesser term of imprisonment.
He is accused of doing (only) the following things: – inflating the revenue figures, at least by by 25% for each quarter. And thus keeping the share-value in its top.
But someone should answer the investors who had lost crores overnight. One even committed suicide [don’t know if true] I heard.
SearchIndia.com Responds:
Besides the investors, Ramalinga Raju is also answerable to the 10,000 Satyam employees whose jobs are at risk now.
That’s true. Wonder, how did he go on to recruit more and more associates, for the duped figures? Or, the numbers were true and the missing amount has been siphoned off?
I could not believe that he was sleeping peacefully repeating the same mistake every quarter. He believed that everything would be ok?
A number of Questions, that are to be simply left unanswered.
SearchIndia.com Responds:
Let’s see how serious the Indian investigative agencies and courts are in prosecuting Ramalinga Raju.
Its the same old story..Ramalinga Raju might have bribed the folks at CBI and got away…
btw I did read about the Madoff sentence and looks like he would need to be in Prison for the next 150 years… weird ain’t it…. I doubt if that guy would be alive for the next 15 years…
SearchIndia.com Responds:
You write: I did read about the Madoff sentence and looks like he would need to be in Prison for the next 150 years… weird ain’t it
Yes, Madoff is 71 and probably won’t live for over 15 years.
But the 150-year verdict is not weird but a symbolic one to satisfy the victim-mob howling for vengeance.
Many of the victims are also stupid and greedy…they should have been suspicious over the consistent good returns. But they didn’t because they were gloating and patting themselves over their ‘high returns.’
well ….knowing the system …he may actually walk away with a lesser term of 3 to 5 to 7 yrs or so …
SearchIndia.com Responds:
A 3 to 5 to 7 yrs term would be a slap on the wrist.
Surprised to see the comparision as you made, which I also did in my blog (http://fewmavericks.blogspot.com/2009/06/madoff-gets-150-years-and-raju-gets.html)
Raju, is very powerful in Andra Pradhesh, even though the state government is under the central government, the state can protect anyone in its territory, even if they are criminals or terrorists, this is the fate of the so called autonomy of states in India. Now, Raju will be saved by AP government which ever party rules it, as all of them have taken perks from him.
SearchIndia.com Responds:
You write: Surprised to see the comparision as you made, which I also did in my blog
Fools seldom differ or is it Great minds think alike? 😉