7. Scenario I Forgery inc The scam team forged invoices to show collection of revenue abroad, forged bank statement to show inflow of money, showed transfer of money to fixed deposits (FDs) through forged FD receipts and reflected all this in the final accounts. The assets and liabilities are altered Q2Q to reflect rising income and rig share price. CAVEAT This would require matching of revenue With staff strength and salary cost. Would also require forging of TDS certificates for income from FDs. POSSIBILITY High, as there is logic and objective. Story behind the scam
8. Next Scenario II True Lies Satyam did make money on export. Raju raised invoices for export abroad; money did come through the banking channels and was transferred to long term FDs and reflected in the books. Once the FDs were recorded in the books the deposits were dissolved and money transferred to multiple accounts. The books continued to reflect the FDs as you don’t need to surrender certificate anymore. Siphoned money was use to acquire land, property, pay for political patronage for Maytas Infra and Maytas properties. CAVEAT This again require forging of TDS certificates for accrued interest and connivance of auditors. POSSIBILITY Very high
9. Extreme Scenario III Hawala Inc Raju receives political slush money abroad, brings it as invoiced billings, shows it in his book and transfers it to FDs to be dissolved latter.The money transferred to multiple accounts is siphoned to repatriate politicians’ money and for funding the activities of Maytas. CAVEAT Have to show staff strength to match revenues or ramp up operating margins. Besides co-opting auditors and forging TDS certificates. POSSIBILITY Very very high, is in sync with whispers of pressure to pay politicians and patronage.
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