The CEO of Satyam (SAY) Ramalinga Raju was arrested today, two days after confessing to a massive fraud at the Indian outsourcer.
But the big story is that the company’s CFO, Srinivas Vadlamani, who happened to have made a huge share sales back in September, may have attempted suicide:
Times Of India: On Thursday, Vadlamani put in his papers and on Friday morning there were strong rumours that he had attempted to take his life. Whether this is true or not, Vadlamani has been on the run for the last few days.
“He is not staying at his own house for security reasons,” a friend of his confirmed. Interestingly, these stories about suicide have surfaced the day that Sebi officials along with sleuths of the Serious Fraud Office have landed in Hyderabad to investigate the books of Satyam.