India’s Elder Subject Of Probe By Authorities

Indian authorities have begun an investigation into the accounts of Elder Pharmaceuticals, suspecting it of keeping false accounts to defraud investors. Government sources say Elder already had confirmed it filed false tax accounts to settle another case, but the more recent probe is said to be aimed at a siphoning of investor funds. A company spokesman said the incident involves only a single reference in a financial statement that was corrected after the government pointed it out. (Click here for more