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- The CFO of Satyam Computer Services
- Charged with criminal conspiracy, forgery, criminal breach of trust and falsifying documents
- Could face up to life in prison if found guilty of charges
- Satyam means "truth" in Sanskrit
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Vadlamani Srinivas was the chief financial officer for Satyam Computer Services. On January 10, 2008, he was arrested on charges of fraud. He is the third person, and the third-highest ranking employee from Satyam, to be charged.
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Satyam Scandal Background
Satyam Computer Services began to be investigated in February of 2008 after it was reported that the company had been banned from doing business with the World Bank due to the lack of a paper trail in its accounting. As the investigation continued, Satyam CEO Ramalinga Raju confessed that he had inflated profits and minimized debts to create a $1 billion fictitious increase in the company's value.Satyam: Raju letter
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Vadlamani Srinivas News
- FOX News: Satyam Chief Financial Officer Arrested in Fraud Scandal (January 11, 2009)
- BBC NEWS: Indian IT scandal boss in custody (January 10, 2009)
- Boston Globe: 3rd Satyam officer charged with fraud (January 11, 2009)
- WSJ Video: India Names New Satyam Board Members (January 11, 2009)
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On Twitter Powered by Twitter
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Former Satyam directors appear before court: Satyam scam accused B Rama Raju, Vadlamani Srinivas and three form.. http://bit.ly/5UrdMP
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Ex-Satyam directors appear in court: Satyam scam accused B Rama Raju, Vadlamani Srinivas and three former direc.. http://bit.ly/7ZbNGs
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