It turns out that the Satyam scam was a midnight operation.The CBI investigation has revealed that four persons used to create and hide the fake invoices after 11 pm,when all the other employees left for the day.
CBI DIG V V Lakshminarayana said that while going through the seized documents,they came across 77,631 invoices and after deciphering them,it was found that those marked S were all fraud and whose details were not available in the computers of the finance department of the company.The data pertaining to these invoices were hidden from the business section of the company with the help of a super user ID which was known to only four people,he said.
The CBI zeroed in on these people through the intra-organisation emails.They are Vadlamani Srinivas,CFO,G Ramakrishna,D Venkatpati Raju,finance manager and Ch Srisailam,assistant finance manager.Then cyber forensic experts entered the scene and cracked the super user ID which contained a unique software program that imports false invoices into the regular Invoice Management System.
The super ID can hide and reveal the data as per the requirement,said Lakshminarayana.We have found 7631 fake invoices hidden with the help of the super user ID.They were worth Rs 5,117 crore, he said.The creation of the fake invoices was a midnight operation because of which most of the employees working in Satyam were unaware of the making of the scam,he added.
The CBI has also calculated that the Satyam scam caused a total loss of Rs 24,000 crore to the public.Apart from individual investors and 20 mutual funds,nine public sector banks and the Life Insurance Corporation of India (LIC) suffered losses due to the collapse of the Satyam share value after the fraud came to light in January last year.Among the public sector companies,the heaviest loss was suffered by LIC which was to the tune of Rs 950 crore.
While the investigation into the Hyderabad-based Satyam Computers has been completed,the probe related to the six foreign bank transactions are pending,the DIG said.Even though the CBI is hopeful of some positive response from the six countries to which letters rogatory have been sent,Lakshminarayana said the information from the foreign banks will have no bearing on the basic nature of the scam.
So far,the CBI has attached 90 properties belonging to the family members of B Ramalinga Raju,the erstwhile chairman of the company.The enforcement directorate has attached as many as 421 properties.
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