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Satyam founder Ramalinga Raju gets 6 months jail for fraud

Zafar Anjum | Dec. 9, 2014
Both Satyam founder B Ramalinga Raju and his brother Rama Raju have been given jail sentences

On January 7, 2009, Satyam founder B Ramalinga Raju admitted to what became India's biggest accounting fraud. Ever since, a lot of water has flown down the Ganges and Satyam does not exist any more as the company was acquired by Tech Mahindra.

However, the law took its own sweet time to punish Raju and his brother Rama Raju for committing the crime. The punishment came only on Monday when a Hyderabad court sentenced the duo to six months in jail. The court also slapped on them a fine of Rs 5 lakh (about S$10,000) on each of them.

This is according to a report by NDTV with inputs from PTI.

The report also mentioned another case regarding the Central Bureau of Investigation (CBI) probe in the Satyam scam. That case is pending for judgment on December 23.

 

 

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