How Ramalinga Raju fudged accounts

False invoices

New Delhi: The financial fraud perpetrated by the founders of Satyam Computer Services was executed through a well-planned accounting system that used as many as 7,561 fraudulent invoices worth Rs 5,117 crore to inflate the company's sales, the Central Bureau of Investigation (CBI) alleged on Monday.

To perpetrate the fraud, the accused also created an identity and code that not only bypassed all other accounting systems, but also managed to hide the fraudulent invoices from other departments, the premier investigating agency said.

Image: A file picture of Ramalinga Raju being escorted to jail

Text: IANS

Images: Copyright AFP/AP. Any unauthorised reproduction is prohibited.

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