Disgraced IT czar of Saytam, Mr. Ramalinga Raju is slowly showing the real face. Never feel pity over these type of Corporate frauds. Here is the list of misdeeds which Raju has done:1. Ramalinga Raju has diverted crores of rupees from Satyam accounts to those of his kith and kin.
2. The diverted money is invested in Maytas and other sister concerns.
3. Raju also transferred the shares in the name of his brother Suryanarayana and mother Appalanarasamma.
4. Even Satyam’s staff strength was inflated from 40,000 to 53,000, and crores of money drawn in the names of these 13,000 fictitious employees were siphoned off every month.
5. Raju bought thousands of acres of land with Satyam money, mostly in and around Hyderabad, and registered them in the names of his family members and relatives.
6. Fixed deposit certificates from HDFC, ICICI, etc confirming Satyam’s FDs worth thousands of crores are all forged. When the CID checked the data with the various banks, they said there were no cash reserves of Satyam in their branches.
