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The judicial custody of former Satyam Computers chairman B Ramalinga Raju and other accused in connection with the 7,800 crore fraud at the IT major ends on Wednesday.
On July 8, a local court had extended their judicial custody till Wednesday.
The accused are Ramalinga Raju, his brother and Satyam’s former managing director Rama Raju, ex-CFO V Srinivas, former partners of Price Waterhouse S Gopalakrishnan and T Srinivas along with Satyam Computer Services former employees G Ramakrishna, D Venkatapathi Raju and Ch Srisailam.
All are lodged at Chanchalguda Jail in Hyderabad.
Ramalinga Raju allegedly admitted overstating its cash reserves by USD 1.5 billion. Later, allegations have been made that the company’s assets were not inflated, but instead siphoned off by Ramalinga Raju.
Raju is currently held in Hyderabad’s Chanchalguda Jail on criminal charges including fraud, forgery, cheating, embezzlement and insider trading.
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