Satyam scam over Rs 14k crore: CBI

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Satyam scam over Rs 14k crore: CBI
Hyderabad, Nov 25: The Central Bureau of Investigation has said the accounting scam at Satyam Computer Services is to the tune of Rs 14,000 crore and not Rs 7,800 crore.

The CBI on Tuesday, Nov 23 filed a 200-page charge-sheet had details of properties acquired by Raju and other accused and their financial transactions abroad through fictitious firms.

Speaking to reporters here, CBI Deputy Inspector General Lakshminarayana said, "The quantum of scam and the loss suffered by investors has been quantified. The loss suffered by investors works out to over Rs 14,000 crore."

The CBI official said with the filing of the additional charge sheet, the agency had completed the probe into the accounting fraud.

The additional charge sheet said Ramalinga Raju and the other accused had acquired assets worth Rs 350 crore.

"In the supplementary charge sheet, we have cited 301 additional witnesses and nine material objects. We have also filed 1,550 additional documents. With this the quantity of documents in this case has gone up to 55,000," Lakshminarayana added.

The accounting fraud came to light on Jan 7 when Raju quit as Satyam chairman while confessing that he had cooked the company's accounts and inflated profits over several years.

OneIndia News

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