Satyam Founder Gets Prison for Fraud

Satyam Founder

Satyam founder Ramalinga Raju has been found guilty by a Hyderabad court of criminal cheating and conspiracy in what is described as India’s largest-ever corporate scandal. He has been sentenced to seven years in prison after finding him guilty of fraud in a $1 billion accounting scandal that destroyed his company and tarnished the reputation of corporate India six years ago. It is the biggest fraud at a listed company in India – its collapse was called India’s Enron. Satyam was one of the biggest players in the booming Indian software market.

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