India Satyam Computers: B Ramalinga Raju jailed for fraud

9th April, 2015 09:35:34 printer

India Satyam Computers: B Ramalinga Raju jailed for fraud

B Ramalinga Raju was one of the pioneers of the Indian IT industry

An Indian court has sentenced the former head of Satyam Computers and nine others to seven years in prison in one of the country's biggest ever corporate scandals.
B Ramalinga Raju, who founded the software services giant, denied charges of conspiracy, cheating and forgery but admitted to accounting malpractices.
Raju was also fined $800,000.
The collapse of Satyam Computers in 2009 cost shareholders more than $2bn and rocked India's IT industry.
The BBC's Simon Atkinson in Mumbai says it is the biggest fraud at a listed company in India.
The convicted men are expected to appeal. The maximum sentence Raju faced was life in jail.
 

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