BusinessBusiness RecoveryThree more Satyam executives arrested

Three more Satyam executives arrested

Vice president, and a senior and assistant manager arrested as fraud probe widens

India’s federal crime bureau has arrested three senior executives at Satyam,
the outsouring provider that was formerly audited by PricewaterhouseCoopers.

According to a statement, Satyam’s vice president, as well as a senior
manager and an assistant manager in the company’s finance department were
arrested on Sunday in connection with the accounting fraud investigation.

Satyam’s founder and former chairman Ramalinga Raju and two other senior
managers were arrested in January after Raju confessed to falsifying the
accounts and overstating profits.

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