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5 Indian Entrepreneurs Caught On The Erroneous Side Of The Law | Scams
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5 Indian Entrepreneurs Caught On The Erroneous Side Of The Law | Scams

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April 22, 2017

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2. B Ramalinga Raju

Byrraju Ramalinga Raju was the former chairman of Satyam Computer Services from 1987 and till 7 January 2009, stepping down conceding to embezzlement of financial info of the company to the tune of Rs 71.36 billion (approximately US$1.5 billion), including Rs 50.40 billion (approximately US$1 billion) of non-existent cash and bank balances.

Indian Entrepreneurs Caught On The Erroneous Side Of The Law | Swindles | Scams | Schemes — Indian entrepreneurs Caught On The Erroneous Side Of The Law | Swindles | Scams | Schemes | Ramalinga Raju

In April 2015, B Ramalinga Raju was sentenced to seven years imprisonment. He was penalized Rs 5.5 crore after he was convicted by a special court in the Rs 7,800-crore accounting scam that rendered a gigantic setback to nation’s Information technology (IT) sector.

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