Sucheta Dalal :CBI charges Raju others in fresh Rs430-crore scam
Sucheta Dalal

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CBI charges Raju, others in fresh Rs430-crore scam  

December 15, 2009


The Central Bureau of Investigation (CBI) has charged Satyam Computer Services Ltd (Satyam) founder B Ramalinga Raju, his brother B Rama Raju and eight others with creating fictitious customers and siphoning off Rs430 crore from the IT company, reports PTI.


According to the supplementary charge sheet filed last month by the CBI, which probed the accounting scam in the company, the accused created fake customers and generated invoices against them in order to inflate revenues of Satyam to the tune of Rs430 crore, incurring expenditure to the tune of Rs65.90 crore.


"Adequate evidence has come on record to prove that the accused Rama Raju, Satyam employees G Ramakrishna, D Venkatpathy Raju and Srisailam have dishonestly and fraudulently conspired together to create seven fake customers in 2006 and got forged and fabricated invoices raised in the name of those customers to the tune of Rs430 crore in order to inflate the revenues of Satyam to that extent," the charge sheet said.


In order to inflate the account books, the accused created fake email IDs and sent mails on behalf of the seven customers to various associates of Satyam and urged them to continue the development of the products.


After an analysis of the emails, it was found out that the Internet Protocol addresses used for sending the mails were within Hyderabad, clearly revealing that the mails had not emanated from the seven foreign customers, the charge sheet said.
— Yogesh Sapkale

-- Sucheta Dalal