Is Satyam's Ramalinga Raju's fraud part of Indian industry practices?

For last 10-15 years, in India IT industry was talked about as very transparent industry. It was considered one of the industry where people were getting rewards for their sheer hard work and IQ rather than their caste or any other social status. Mr. Raju has broken that myth. Yes, I repeat Myth.

For some unknown reason, he admitted to all the wrongdoing before he got caught. But one thing is surprising that he has admitted that he singlehandedly did all the frauds for several years. This is difficult to believe that the chairman of the company can do fraud of this scale. First, I doubt that the chairman of the company as big as Satyam was will personally involve in the work of preparing accounts for the company. It was not only creative accounting that can be asked from the accountants and they will do it but it was fraud and the accountants or some people in the Finance department of the company must be involved in this fraud. Satyam was listed in USA and it is difficult to make analyst fool if the accounting is not done properly or anything is left improper. Fraud of this magnitude needs proper coordination between different people inside the company. Second why at all he will admit fraud and get caught when it is sure he will not ever come out of jail now. He had many other options. He could have sold his shares in the company couple of months back or a year and come clean. I feel there is bigger story is behind this scam but I doubt we, as outsiders, ever know anything about the real story. We will have to believe whatever stories we get through media speculation.

One other thing that is talked about the IT industry is that it is free from government control. Probably it is free to larger extent. But there is direct link between the politicians and the IT company heads. There is big money in building IT parks for everyone including politicians through builders. IT companies get many incentives from the government for operating in different states. Why an Indian politician not ask for his/her share out of the incentives given to IT companies? It is difficult to answer this question. We have die hard corrupt politicians, I can not believe they will do anything without getting commission.

Many bureaucrates manage to get good jobs for their sons/daughters in the companies including IT. There is good salary and social status when sons/daughters work in USA or Europe or Australia for IT companies. Bureaucrates are happy with this.

IT companies are like any other companies and are made same people so expecting these companies to be much different from any other Indian company is childish behavior. Only difference is these companies have shiny buildings. and we Indians love shiny and white color. Be it bride or the building.