Earlier this year, Microsoft agreed to pay a whopping $1.2 billion for a Norwegian enterprise search company called Fast. Now, TechCrunch has translated an article from a Dagens Næringsliv which details the accounting fraud that Fast engaged in. Apparently, Fast booked $50 million in fake revenue, $20 million in bogus contracts, and $6 million in fake payouts to companies controlled by Fast executives.

Alarm bells should be ringing at Microsoft. In their frenzy to buy search players to compete with Google, they were willing to look the other way with regards to massive fraud.