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World Bank Admits Top Tech Vendor Debarred for 8 Years




World Bank Admits Top Tech Vendor Debarred for 8 Years
World Bank Admits Top Tech Vendor Debarred for 8 Years



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http://www.foxnews.com/story/0,2933,470964,00.html 

By Richard Behar
Fox News
December 23, 2008

For months, the World Bank has been stonewalling and denying a series of 
FOX News reports on a variety of in-house scandals, ranging from the 
hacking of its most sensitive financial data to its own sanctions 
against suppliers found guilty of wrongdoing.

But last week the world's most important anti-poverty organization 
suddenly came clean =E2=80=94 sort of =E2=80=94 in its tough sanctions against a vitally 
important computer software service supplier that has been linked not 
only to financial wrongdoing but also to the ultrasensitive data heists.

A top bank official, FOX News has learned, has admitted that a leading 
India-based information technology vendor named Satyam Computer Services 
was barred last February from all business at the bank for a period of 
eight years =E2=80=94 and that the ban started in September.

The admission confirms what FOX News reported from its own bank sources 
on October 10 =E2=80=94 a report the World Bank officially disparaged at the 
time.

The World Bank's revelation of the ban on Satyam comes at a watershed 
moment for the $2 billion (sales) outsourcing giant, which boasts more 
than 100 Fortune 500 companies as clients and which trades on the New 
York Stock Exchange. Last week, India's securities commission announced 
that it would investigate Satyam.

[...]


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