Satyam’s Ramalinga Raju surrenders before Andhra police chiefJanuary 10th, 2009 - 12:12 am ICT by IANS
Hyderabad, Jan 9 (IANS) Disgraced former founder-chairman of Satyam Computers B. Ramalinga Raju surrendered before the Andhra Pradesh police chief Friday night.Raju reached the office of Andhra Pradesh Director General of Police S.S.P. Yadav and surrendered, the police said.
Raju’s move came after a criminal case was registered against him by the Criminal Investigation Department (CID) in the Rs.70 billion accounting fraud in the company.
The police are likely to present him before a magistrate Saturday morning.
Raju quit as chairman Wednesday while admitting that the company cooked its books resulting in an “inflated (non-existent) cash and bank balances” over several years.