Satyam scam bigger than disclosed by Raju: CBI

Posted By: Staff
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New Delhi, Mar 22: The CBI's probe has revealed that the Satyam Computer fraud involves a much bigger amount, close to Rs 10,000 crore, than what was disclosed by the IT company's founder Ramalinga Raju.

According to source, the investigation agencies has retrieved over 7,000 fake invoices and forged documents showing fixed deposits and bank balances and their evaluation shows that the size of the scam is over Rs 9,600 crore.

It can be recalled here that on Jan 7, Raju had admitted Rs 7,800 fudging. Investigating agency during the probe found that the accused relied heavily on technology to generate nearly 7,000 fake invoices to the tune of Rs 4,500 crore and fed the same into Satyam's books.

These inflated figures were also reflected in the balance sheet in the form of audit reports which helped the company to cheat the public who were purchasing the shares, the sources added.

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