Monthly Archives: July 2009

Commentary

How About Doing a Madoff to Raju

It’s been over six months since the Raju scandal came to light. But we are nowhere near to a decision. It wouldn’t be wrong to say that whatever is happening with Raju right now is just an eye wash. Ultimately he will get off cheap, and I won’t be surprised if he starts another company on his release. If anyone can do this, it is him. Irrespective of his criminal acts he has a very sharp brain, if he could do it once, he can very well do it again.

Compare this to the Bernard Madoff scandal. Madoff admitted that his fraud exceeded $50 billion, making it the largest Ponzi scheme that the world has ever witnessed. He ran this fraud for almost thirty years, during which time he defrauded European royalty, hedge funds from across the world, America’s top businessman and executives, and even a US Senator. If the Madoff scandal had happened in India, the trial itself would have lasted at least 15 years considering that the victims were from across the world. But this isn’t how things work in the US.
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