Saturday, September 19, 2009

Shadow Warrior: Congress siphoned Satyam's cash to fund elections

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    • One person who would certainly be rooting for Jagan to be the next chief minister would be one B Ramalinga Raju, the former chairman of Satyam Computers who is now an occupant of Hyderabad's Chanchalguda jail. Raju has been accused of fraud, forgery, cheating and insider trading. His scandal broke when he admitted that Rs 7,000 crore had disappeared from the company and subsequently surrendered to the police. Investigators found that the money had disappeared not because the accounts had been inflated, but because it had been siphoned off. Opposition leader N Chandrababu Naidu, on the floor of the Andhra Assembly, charged Raju with giving the money to 14 of Jagan's companies for laundering.