April 7, 2009 / 3:04 PM / 11 years ago

CBI files charges in Satyam fraud case

Former chairman of Satyam Computer Services Ramalinga Raju (2nd R) is taken into police custody outside the Chanchalguda jail in Hyderabad January 18, 2009. REUTERS/Krishnendu Halder/Files

NEW DELHI (Reuters) - The Central Bureau of Investigation (CBI) said on Tuesday it had filed charges against nine people including Satyam Computer Services’ founder and former chairman Ramalinga Raju for alleged involvement in accounting fraud at the outsourcing firm.

The charges include criminal conspiracy, cheating and forgery and falsification of accounts, the CBI said in a statement.

Satyam founder and former chairman Ramalinga Raju, his brother, Rama Raju, who was managing director, and ex-chief financial officer Vadlamani Srinivas were arrested in January after founder Raju resigned, saying profits had been overstated for years and assets falsified.

The CBI said charges were filed against Satyam’s former managing director, former CFO, two external auditors and four others.

Satyam has been looking for a buyer through a bidding process to help restore confidence amongst its more than 600 clients and about 50,000 staff.

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