Two Pricewaterhouse officials arrested in Satyam fraud

January 24th, 2009 - 9:36 pm ICT by IANS  

Ramalinga RajuHyderabad, Jan 24 (IANS) Two officials of PricewaterhouseCoopers, the firm that audited fraud-hit Satyam Computer Services’ books, were arrested Saturday for their alleged role in the irregularities.The Crime Investigation Department (CID) of the Andhra Pradesh police, probing the Rs.70 billion (Rs.7,000 crore/$1.43 billion) fraud in the IT bellwether, arrested chief relationship partner S. Gopalakrishnan and engagement leader Srinivas Taluri.

CID sources said the two had allegedly suppressed information about the inflated revenues and profits of Satyam.

They said the two would be produced before a magistrate within 24 hours.

These were the first arrests of auditors since Satyam founder B. Ramalinga Raju quit as chairman Jan 7 while admitting the massive fraud.

Ramalinga Raju, his brother and former managing director B. Rama Raju and former chief financial officer Vadlamani Srinivas were arrested earlier.

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