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Founder of Indian Outsourcing Giant Faces Life Imprisonment

9 Apr 2015 12:00 AM | Anonymous

B. Rama Raju, founder of Satyam Computer Services, has been found guilty of embezzling millions from the company, as have two of his brothers and seven other company officials.

All ten will now be sentenced, and it is likely that all will be given life sentences. Investigators say that Raju and his fellow executives cost the company’s shareholders 140 billion rupees ($2.28 billion USD).

A year after the scandal erupted, Tech Mahindra bought a majority stake in Satyam Computer Services and changed the company’s name to Mahindra Satyam.

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