It may sound unbelievable, but tainted former chairman of Satyam Computers B Ramalinga Raju had swindled huge amounts of money from the company by inflating the staff strength by 13,000 and used fictitious numbers.
This sensational revelation was made by CID prosecutor Ajay Kumar in the Nampally Criminal Courts on Thursday. He told the court that the actual strength of Satyam was not 53,000 as being claimed in the records of the company, but is only 40,000. The prosecutor said Rajus had drawn Rs 20 crore from the company every year in the name of non-existing employees. He also accused Raju of diverting money of about Rs 7,400 crore for other purposes and indulging in fictitious transactions. Raju's claim of having Rs 3,300 crore bank balance was also false, he said.
Ajay told the court further that Raju had indulged in 400 land transactions in and around Hyderabad and other States. The land transactions between Raju and Akula Rajaiah were to the extent of Rs 125 crore.
