Business Services Industry
Bahadur: I was trying to help a customer.(B.N. Bahadur accused by Delphi Corp. for accounting fraud)(Brief article)
Crain's Detroit Business, November, 2006
As a well-known industry consultant, B.N. Bahadur is the guy automakers hire to clean up messes in the supply chain. But in the case of Troy-based Delphi Corp.'s accounting scandal, Bahadur was part of the mess. In its Oct. 30 civil complaint filed in U.S. District Court in Detroit, the U.S.
Securities and Exchange Commission alleged that Bahadur earned $350,000 for "buying'' $70 million in inventoried batteries and generator cores from Delphi in December 2000. Bahadur, 61, the principal in consultancy BBK Ltd. in Southfield, never actually paid Delphi for the inventory, and the inventory never was shipped to him. Bahadur sold the inventory back to Delphi two weeks later so Delphi could sell it, the government said. In an interview with Crain's sister...
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