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Auditors arrested in Satyam fraud inquiry

PricewaterhouseCoopers LLP's Indian affiliate, the auditor of Satyam Computer Services Ltd, said two partners were arrested by police as authorities extended the nation's largest fraud inquiry

  • Bloomberg
  • Published: 23:25 January 25, 2009
  • Gulf News

Bangalore: PricewaterhouseCoopers LLP's Indian affiliate, the auditor of Satyam Computer Services Ltd, said two partners were arrested by police as authorities extended the nation's largest fraud inquiry.

Srinivas Talluri and S. Gopalakrishnan were remanded to judicial custody on charges of "conspiracy and co- participation," A. Shivanarayana, additional director general of police in Andhra Pradesh state, said from the province's capital Hyderabad, where Satyam is based. Price Waterhouse said in a statement it did not know why two partners were detained.

Indian police and accounting bodies have started investigations after Satyam founder Ramalinga Raju said he had fabricated $1 billion (Dh3.67 billion) of assets.

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