The disgraced Satyam CEO has confessed to the scam. However, there are many more secrets to be spilled--secrets that could implicate others in the fraud. It's for this very reason--Police fear that Ramalinga Raju's life may now be at risk.
January 7--corporate India's bigwig and chief of Satyam Computers Ramalinga Raju confesses to a Rs 7,000 crore fraud and resigns. Two days later, he is arrested for his role and is kept under judicial custody.
A week later, the Andhra police has thrown a security blanket around Raju in Chanchalguda jail in Hyderabad fearing a threat to his life. Jail superintendent K Newton said that though there was no specific threat, they didn't want to take any chances.
Sources say security is so tight that the only visitor who was allowed to meet Raju is his father-in-law Satyanarayana Raju, while two friends of Ramalinga Raju were denied permission. Sources say Raju, who has been at the helm of affairs in Satyam since the beginning knows far too much and could be targetted by the powerful land mafia in AP since both Satyam and Maytas have a number of land deals.
Secondly, institutions that could have manipulated share prices in the run up to the Satyam scam could have an eye on Raju. Finally, Raju could also have details on political movement, which could make him an easy target.
Courtesy: Timesnow
