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Satyam chairman arrested on charges of cheating
HYDERABAD, India |
HYDERABAD, India (Reuters) - The head of India's Satyam Computer was arrested on Friday on charges of cheating and forgery, a state police chief said on Friday, two days after the executive resigned from the outsourcer.
Chairman and founder Ramalinga Raju was arrested along with his brother and co-founder B. Rama Raju on charges of criminal breach of trust, criminal conspiracy, cheating, falsification of records and forgery, S.S.P. Yadav, police chief of the southern Andhra Pradesh state, whose capital Hyderabad is home to Satyam, told Reuters.
Raju resigned on Wednesday after revealing years of accounting fraud, which has called into question the future of the outsourcing company. He will appear before the market regulator on Saturday.
(Reporting by Sumeet Chatterjee; Editing by David Cowell)
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