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Court found Satyam Raju and 9 Others guilty!
By: Tupaki Desk | 9 April 2015 6:02 AM GMT
A Special Court in Hyderabad on Thursday found Satyam founder B Ramalinga Raju and 9 Others guilty of multi-crore accounting fraud.
Satyam Fraud Case 10 Accused: B Ramalinga Raju, Raju's Brothers Rama Raju & B Suryanarayana Raju, Chief Financial Officer Vadlamani Srinivas, PwC auditors Subramani Gopalakrishnan & T Srinivas, Internal Chief Auditor V S Prabhakar Gupta, Employees D Venkatpathi Raju, G Ramakrishna and Ch Srisailam.
On January 7th - 2009, B Ramalinga Raju confessed to have manipulated Satyam Computers account books for many years. CID Sleuths arrested him just 2 days after this confession. Cases were booked against 10 Accused under Sections related to cheating, breach of trust, criminal conspiracy and forgery.
In February 2009, CBI has taken up Satyam Fraud Case and filed 3 Charge Sheets. The Investigation Agency revealed a loss of Rs 14,000 crore has been incurred to the shareholders of Satyam due to the fraud.
