A special court in Hyderabad on Thursday sentenced Satyam founder B. Ramalinga Raju to seven years imprisonment, also fining him a penalty of Rs. five crores in multi-crore accounting fraud case.
Earlier in the day, the court had pronounced Raju, along with nine others, guilty.
A Hyderabad court had sent Raju and his brother Rama Raju to six months in jail, and had also imposed a fine of Rs.5 lakh on each of them in connection with the massive corporate fraud case in November last year.
The Supreme Court had later granted bail to the two accused.
The charges against Raju, who was arrested in January 2009 for one of India’s biggest corporate scams worth more than Rs.7000 crores, include criminal conspiracy, breach of trust, cheating and forgery.
The Andhra Pradesh Police had arrested Raju and his brother Rama Raju on January 9, 2010. Nine other accused, including top company officials and auditors, were also arrested in the case.
