Ramalinga Raju declared pauper by US court

Posted By: Staff
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New York, Jan 28: Founder and former chief of Satyam Computers, Ramalinga Raju has been declared 'pauper' by the US court.

The declaration comes after the accused said that they are unable pay any court fees or to meet any financial obligations which might be imposed by the court.

US District Judge Barabara S Jones said, "The court finds that defendants have adequately demonstrated that they are unable to pay costs as described in the federal law."

Jones approved 'pauper' status for Raju, his brother Rama Raju, Satyam's former chief executive officer, and Srinivas Vadlamani, the company's former head of finance.

On Jan 2009, Ramalinga Raju had confessed to have inflated his company's assets by over USD one billion.

OneIndia News

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