The special CBI court in Hyderabad on Thursday pronounced its judgement in the multi-crore Satyam accounting fraud case. Special judge B V L N Chakravarti found B. Ramalinga Raju, his brother Rama Raju and eight others guilty in the case that rocked the country six years ago. The court will deliver the sentence to all the accused tomorrow. Each accused may get 10 years jail as per charges filed.
The 10 accused who have been convicted are Satyam Computer Services Limited’s founder and former chairman B ramalinga Raju, his brother and Satyam’s former MD B Rama Raju, former Chief Financial Officer Vadlamani Srinivas, former PwC auditors Subramani Gopalakrishnan and T Srinivas, Raju’s another brother B Suryanarayana Raju, former employees G Ramakrishna, D Venkatpathi Raju and Ch Srisailam and Satyam’s former internal chief auditor V S Prabhakar Gupta.
Touted as the country’s biggest accounting fraud, the scam had come to light on January 7, 2009, after the firm’s founder and then Chairman B Ramalinga Raju allegedly confessed to manipulating his company’s account books and inflating profits over many years to the tune of crores of rupees.
Raju was arrested by the crime investigation department of Andhra Pradesh Police two days later along with his brother. In February that year, CBI took over the investigation and filed three charge sheets (on April 7, 2009, November 24, 2009 and January 7, 2010), which were later clubbed into one.
Around 3,000 documents were marked and 226 witnesses examined during the trial that began nearly six years ago.
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