RAMALINGA RAJU GETS 7 YEARS IN JAIL

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SCAM// Former chairman of Satyam Computer Services Ltd. B Ramalinga Raju and nine others, two of them family members, were sentenced to seven years rigorous imprisonment on April 9 in the country’s largest-ever corporate fraud. Although Raju cited social service in plea for leniency, the special court found him guilty for various offences and sentenced them to imprisonment for different periods besides imposing fines of Rs 5.5 crore each on Raju and his brother Rama Raju, ex-managing director of the company. Raju’s meteoric rise had made him a household name among stock market investors before he confessed to fudging his company accounts on January 7, 2009. Raju has already spent nearly 29 months in jail.

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