Here’s another alleged swindler – R Subramanian of Subhiksha fame – arrested in a different capacity.
His namesake – Sundaresha Subramanian has a nice report here – Viswapriya case. R Subramanian had luminaries on the Board – R Narayanan, former chairman of Life Insurance Corporation; Raghavan, Retd chairman, Indian Bank, Rajaratnam, Retd Commissioner, Appellate Tribunal, High Court of Madras.This was the case in Satyam (prior to fraud disclosure) as well – the Board among other great greats was one Mr Krishna Palepu – a Professor at Harvard.
Mr Palepu’s CV on his Harvard wall then read as follows:
“Professor Palepu’s work focuses on how to make corporate boards more effective, and on improving corporate disclosure. Professor Palepu teaches these topics in several HBS executive educationprograms aimed at members of corporate boards: “Making Corporate Boards More Effective,” “Audit Committees in a New Era of Governance,” and “Compensation Committees: New Challenges, New Solutions.” He also co-led Harvard Business School’s Corporate Governance, Leadership, and Values initiative, launched in response to the recent wave of corporate scandals and governance failures.” (Italics mine)
I wrote an email to him but quite expectedly got no response! It was sheer irony of the highest order that a Professor of Corporate Governance be sitting on the Board of the largest fraud firm, and in the Audit Committee 
Warm regards,
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