There is a wide range of opinion concerned Satyam scam and if not for the suggested Maytas transaction, the humoungous scam wouldn’t have been discovered and the fraud would have continued. The Rs 7,000 crore frauds would have stayed undiscovered. On January 7th 2009 when the fraud was discovered, the whole Nation was shocked and this was like an enigma to the country’s economic structure.
After a few months in Jail, Satyam Ramalinga Raju and Ramaraju were out on bail and the investigation on their economic offences has been going on. On Monday, The Special Economic Offences Wing (EOW) court in Nampally has sentenced Ramalinga Raju and his brother Rama Raju to six months of imprisonment and a fine of Rs 10 lakh each.
The court didn’t spare the former officials of Satyam namely Vadlamani Srinivas who had been the former chief financial officer and Ram Mynampati, the chief executive officer were also sentenced to 6 months jail and Rs.10 lakh fine each. The court has also fined Rs 20,000 each on all former independent directors of Satyam. All the accused would have one month time to appeal in a higher court of law. Satyam Ramalinga Raju and Rama Raju were convicted in six various cases.
