news Thursday, April 09, 2015 - 05:30
A special CBI court in Hyderabad has sentenced former Satyam chairman Ramalinga Raju and nine others to a seven year sentence with an additional fine of Rs five crore on Ramalinga Raju and his brother and former Managing Director B Rama Raju.   Raju reportedly appealed to the judge to ease his verdict, adding that he had to take care of his family and aged mother and also take into consideration his age and the fact that he had already spent 32 months in jail. He also added that he had done a lot of social service and philanthropic activities. After more than 6 years, the CBI special court, which was hearing the case found Raju guilty under many counts. All 10 accused in the case have also been found guilty in a scam that has been dubbed as one of the biggest financial scams in the country's corporate sector. Read - After six years, Satyam's Ramalinga Raju and nine others found guilty The accused have been found guilty of cheating, forgery and criminal breach of trust which had caused a loss of Rs 14,000 crore to shareholders of Satyam. The other eight accused have also been sentenced to a seven year jail term with an additional fine of Rs 50 lakh each.

Show us some love and support our journalism by becoming a TNM Member - Click here.