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More arrests likely in Satyam fraud case

More arrests likely in Satyam fraud case
PTI
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First Published: Thu, Feb 05 2009. 02 39 PM IST
Updated: Thu, Feb 05 2009. 02 39 PM IST
Hyderabad: Even as Sebi officials are quizzing Satyam Computer founder B Ramalinga Raju and his brother Rama Raju at the Chanchalguda jail here, the Andhra Pradesh police are likely to make more arrests in the Rs7,800 crore fraud involving the IT major.
CID officials investigating the case have not ruled out more arrests in about a fortnight.
“We are constantly scrutinising the seized documents and trying to retrieve data from the hard-disks and laptops recovered during the raids of residences and offices of Satyam officials including its former chairman B Ramalinga Raju,” a senior CID official probing the Satyam fraud said on Thursday.
There are over 25 trunks loaded with seized documents and “we are putting all our efforts to scrutinise (them) with the help of financial experts,” the CID official said.
To retrieve the data from the seized computers, the CID has been taking the services of experts of the National Informatics Centre (NIC) and Forensic Science Laboratory, besides IT experts within the department, he said.
He said the probe agency has been ordered by the court to share the information it has unearthed from the seized material with other Central investigating agencies like Sebi, the SFIO and the Income-Tax department.
“We are in the process of completing the scrutiny of the seized documents and retrieving data from the computers,” he said.
Once the investigating agency completes its work of scrutinising the documents, more arrests will follow, the official indicated.
He said the CID was also taking help from auditors and chartered accountants to check balance sheets and other accounting statements of the fraud-hit IT company.
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First Published: Thu, Feb 05 2009. 02 39 PM IST
More Topics: Satyam | Ramalinga Raju | rama Raju | Sebi | CID |