CBI Arrests Satyam Audit Head for Fabricating Books of Accounts

by Santosh Kumar Agarwal for Dream Visions    November 21, 2009

V.S. Prabhakar Gupta, Senior Vice-President cum Global Head of Audit cell of Mahindra Satyam (erstwhile Satyam Computers) was today (21^st Nov’09) arrested by Central Bureau of Investigation on charges of fabricating books of accounts of Satyam Computers and conspiring with other co- accused to defraud the computer giant. Gupta was later produced in court and was remanded to judicial custody till 26^th November. Gupta held the same position in the parent company.

The arrest came after the CBI team, which went to Mauritius for investigating certain bank details, returned with concrete evidence of financial manipulations by rerouting funds- that were earlier diverted to Mauritius- back to India to fictitious firms set up by the accused. CBI is now preparing to file a second charge sheet in the case

Incidentally, Gupta is the 10^th accused in the multi-crore Satyam scam along with two other accused from Price Waterhouse, three SCSL employees, the founder of Satyam Ramalinga Raju and his bother Rama Raju. All the accused are on judicial remand except Suryanaryana Raju, who is out on anticipatory bail.

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