Indian CEO charged in US for alleged $66 mil accounting fraud

The Indian Mafia strikes again. Another India Inc CEO gangster has been caught doing mega crime.

And this goes on in the US much more than anyone suspects.

So much for Indians’ constant claims that they “never commit even a single crime once, whatsoever”.

They’re mobsters.

The CEO of a publicly traded commodities trading company was indicted for allegedly orchestrating an accounting scheme to defraud investors and others by recognizing more than $66 million in fake revenue in the company’s public filings.

The indictment announced June 5, by U.S. Attorney for the District of New Jersey, Craig Carpenito says Venkata Meenavalli, 49, of India, was charged with securities fraud. The count of securities fraud with which Meenavalli is charged carries a maximum potential penalty of 20 years in prison and a $5 million fine.

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