In US, Raju faces life term
Satyam founder B Ramalinga Raju could end up spending his remaining life in jail in the US as fresh details show he is battling charges of fraud and forgery in three different courts there, reports Nagendar Sharma & Gaurav Choudhury.business Updated: Jan 18, 2009 20:36 IST
Satyam founder B Ramalinga Raju could end up spending his remaining life in jail in the US as fresh details show he is battling charges of fraud and forgery in three different courts there. The cases pose a serious danger to the financial condition of Satyam Computers also with the damages against them likely to run into billions.
Hindustan Times had first reported on Friday that British mobile solution firm UPaid has dragged Raju, his brother Rama Raju and former chief financial officer Srinivas Vadlamani to court.
It has now come to light that the disgraced Satyam trio are defending themselves in Harrison County, Texas and the US federal courts.
The Upaid has charged Satyam Computers of having committed forgery, fraud and breach of contract and claimed damages in excess of $1 billion.
Former Chief Justice of India JS Verma said, if convicted, the Raju brothers may end up serving upto 75 years in US jails. “Unlike Indian law, a convict in the US has to be in jail separately for each of the offences as the sentences do not run concurrently,” Verma said.
Experts say the confession by Raju and his accomplices appears to be a well-calculated move to postpone the financial trouble that was staring it in the eye in the US courts.