After B Ramalinga Raju and Rama Raju, the Andhra Pradesh police have arrested Vadlamani Srinivas, the former chief financial officer (CFO) of Satyam Computer on the wake of million-dollar scam. The drama began when B Ramalinga Raju resigned from the post of company's chairmanship on January 7 admitting Rs.70-billion fraud done to inflate the profits of Satyam. The financial scam also forced Vadlamani Srinivas to resign from the post of chief financial officer of the company.

 

The police have taken Srinivas into custody because he is supposed to be very close to B. Ramalinga Raju and had full knowledge of the fraud. As per reports, Srinivas was arrested on Saturday (January 10) after some interrogation conducted by the officials of Crime Investigation Department (CID). The Andhra government has vested CID with the responsibility of digging out the matters related to the Satyam financial scam.

 

The police have also arrested B. Ramalinga Raju and his brother and Satyam managing director B. Rama Raju on charges of cheating. The two accused officials were later sent to judicial custody till Jan 23. Ramalinga Raju's confession spread like fire and caused Satyam to get de-listed from Bombay Stock Exchange. Apart from it, the New York Stock Exchange had also stopped trading in Satyam.