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Home > India > Business > PTI > Report


Raju disclosed only part of Satyam fraud: CBI chief

March 26, 2009 16:57 IST

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The Satyam fiasco: Complete

The CBI on Thursday said it would like to subject Satyam [Get Quote] Computer's disgraced founder Ramalinga Raju to a lie-detector test, as it feels he has not shared everything about the accounting scam in the company.

CBI director Ashwani Kumar said the Satyam fraud was unique, as it was the founder, and not an outsider, who is the accused.

The fraud has "not been committed by an outsider but probably been committed by a person who himself has confessed to (being) a part of it.

"We feel that Raju has not shared everything that he knows about it. This is a case of corporate fraud and the suspect is the same person who has brought up this huge organisation," the CBI chief told reporters on the sidelines of a function in New Delhi.

He said the CBI has filed an application before before the local court in Hyderabad seeking nod to conduct polygraph test on Raju and his brother, besides the company's former CFO.

According to sources, the fraud involves an amount that is much bigger than the Rs 7,800 crore (Rs 78 billion) estimated originally. It could be close to Rs 10,000 crore (Rs 100 billion) based on over 7,000 fake invoices and forged documents retrieved by the agency.

On January 7, Raju disclosed that he had falsified profits of the IT company for many years and fudged accounts.



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