09 April, Hyderabad
A CBI special court in Hyderabad Thursday sentenced all ten convicts including Satyam chief B Ramalinga Raju to seven years rigorous imprisonment in the multi-crore rupees Satyam accounting fraud case.
Special Judge Chakravarthi pronounced his judgement holding Ramalinga Raju and nine others guilty of cheating, forgery and criminal breach of trust. After pronouncing the order, the judge directed the CBI to take all the accused into custody.
Ramalinga Raju and his brother B Rama Raju were also fined Rs 5 crore each by the court. Eight others accused in the case were fined varying amounts up to Rs 25 lakh by the court.
The Court considered over 3 thousand documents and examined over 200 witnesses during the trial that went-on since 2009.
The scam came to light in 2009 after Ramalinga Raju allegedly confessed to manipulating his company’s account books and inflating profits over many years to the tune of over seven thousand crore rupees.