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It Took Courts 7 Years To Hold Satyam Founder Raju Guilty

NEW DELHI: A special CBI court on Thursday held Satyam founder and chairman B Ramalinga Raju and nine others guilty in the multi-crore accounting fraud.

The court found Raju guilty of cheating, forgery and criminal breach of trust. The punishment will be pronounced tomorrow.

Probably the country’s biggest accounting fraud, the scam had come to light on January 7, 2009, after Raju allegedly confessed to manipulating his company’s account books and inflating profits over many years to the tune of crores of rupees. Around 3,000 documents were marked and 226 witnesses examined during the trial.

Beside Raju, the other accused are 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.

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