Indian outsourcer Satyam’s founder guilty of accounting fraud, court rules
The founder of Satyam Computer Services has been found guilty of a financial scam that brought the Hyderabad-based outsourcer to the verge of collapse before its rescue by a rival.
A special court in south India found B. Ramalinga Raju and nine others, including former executives of the company, guilty of several crimes for which they will be sentenced on Friday, according to local reports. Raju and some other key accused had previously spent about a year in judicial custody.
The company went into crisis in January 2009, when Raju disclosed that the company’s revenue and profit had been inflated for several years.
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