Satyam Raju, brother arrested

January 10th, 2009 - 9:18 am ICT by ANI  

Ramalinga Raju

Hyderabad, Jan.10 (ANI): Andhra Pradesh Policearrested disgraced former founder-chairman of Satyam Computers B. Ramalinga Raju and his brother and former Satyam MD B. Rama Raju on Friday night for cheating and forgery. The Crime Investigation Department (CID) of the police arrested Ramalinga Raju and Rama Raju on charges of “criminal breach of trust, criminal conspiracy, cheating, falsification of records and forgery,” said Director General of Police S.S.P. Yadav. The arrest was carried out after the two brothers arrived at the police headquartersaccompanied by their lawyer S. Bharat Kumar.

Their move came after a criminal case was registered against them by the CID in the Rs.70 billion financial fraud in the company. The case was registered under the Indian Penal Code (IPC). The CID sleuths will interrogate the two to ascertain the veracity of Ramalinga Raju’’s shocking admission Wednesday. They are likely to be produced before a magistratethismorning. Meanwhile, police sources said the CID might also arrest Vadlamani Srinivas, who resigned as Chief Financial Officer (CFO) on Thursday. The whereabouts of Srinivas is not known. The Rajus were arrested hours after CID began the probe. State Chief Minister Y.S. Rajasekhara Reddy had ordered probe. (ANI)

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