A hidden accounting entry that erased Ricoh India's ₹1,123 crore
Ricoh India admits to an accounting fraud of ₹1,123 crore, leading to the resignation of its CEO and president. The money is simply gone.
A hidden accounting entry that erased Ricoh India's ₹1,123 crore
This episode explores the history of Ricoh, from its origins as a Japanese state-linked paper company to a global manufacturing giant, and how its Indian subsidiary became embroiled in a massive accounting fraud. What led to such a significant financial discrepancy?
Person: CEO and President of Ricoh India
Date: July 2016
Location: India
Event: Accounting fraud admission
Amount: ₹1,123 crore
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The skinny
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