The famous Satyam Scandal involving the IT Big man, Satyam Rama Linga Raju has reached the Enforcement Directorate Court now. Rama Linga Raju and his brother Rama Raju, Suryanarayana Raju, son Teja Raju and his family, who were made accused in the case of money laundering. They were all made to appear in the court along with the accounting staff of the company.
The judge directed the court staff to give them the copies of the ED chargesheet and posted the case to May 5 for further hearing. The scam is estimated at Rs 14,000 Crore and is said to biggest corporate fraud in India. The alleged movable and immovable properties acquired through the scam money are already freezed by the Enforcement Directorate. ED termed 47 persons including Raju’s family as accused in the scam and urged the court to try the accused under the provisions of the Prevention of Money Laundering Act (PMLA).