The scandal at India's leading software industry, Satyam Computer Services may increase investor nervousness about weak corporate governance and oversight in emerging markets.
Satyam founder and chairman Ramalinga Raju admitted on 7th January 2009 that inflating Satyam's reported cash and bank balances by over 50 billion rupees ($1 billion), but little is known about how widespread the problem is and things could get worse if other frauds are uncovered.
Satyam chief Raju quits, shares fallen
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